You have decided to purchase $25$ oil futures contracts at a settle price of $$53\mathrm{.}75$ per barrel. Each futures contract has a standard size of $1,000$ barrels and an initial margin requirement of $$6,450.$

a$.$ What is the leverage factor associated with these contracts?

Note: Do not round intermediate calculations. Round your answer to $2$ decimal places.

Leverage factor

b$.$ If oil rises to $$55\mathrm{.}65$ per barrel, what is the total percentage return on your futures position?

Note: Do not round intermediate calculations. Round your answer to $1$ decimal place.

$\backslash$table$[[$Levered return,$\%$