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You have taken a short position in a gold futures contact of $1824.6. The contract is on 100 ounces of gold. Your initial margin requirement

You have taken a short position in a gold futures contact of $1824.6. The contract is on 100 ounces of gold. Your initial margin requirement is 8%. If you offest the contract when the futures price is $1877.6, what was your rate of return? Answer in percent

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