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You have a short position in one wheat futures contract for 4000 bushels. The initial margin was $3000 and the maintenance margin is $1200. At
You have a short position in one wheat futures contract for 4000 bushels. The initial margin was $3000 and the maintenance margin is $1200. At the close of trading yesterday, the futures price was $5 per bushel and the balance in your margin account was $4000. Today, the settlement price for wheat futures is $. What is the balance in your account at the end of today's trading? Assume that you made the minimum deposit necessary if there was a margin call.
The balance in your account at the end of today's trading is $____
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