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You have a short position in one wheat futures contract. The initial margin was $3,000 and the maintenance margin is $1,500. At the close of

You have a short position in one wheat futures contract. The initial margin was $3,000 and the maintenance margin is $1,500. At the close of trading yesterday, the futures price was $6.48 per bushel and the balance in your margin account was $1,750. Today, the settlement price for wheat futures is $6.78. Will you receive a margin call and what deposit will you be required to make?

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