You have decided to purchase 23 oll futures contracts at a settle price of $53.65 per barrel. Each futures contract has a standard size of 1,000 barrels and an inital margin requirement of $6.438. 6. What is the leverage factor associated with these contracts? (Do not round intermediate calculations, Round your answer to 2 decimal places.) b. If oil rises to $55.55 per barrel, what is the total percentage return on your futures position? (Do not round intermediate calculations. Round your answer to 1 decimal place.) c. What is the total percentage return on your futures position if oil falls to $52.50 per barrel? (A negative value should be inclicated by a minus sign. Do not round intermediate calculations. Enter your answer as a percent rounded to 1 decimal place.)