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You have taken a short position in a gold futures contract at $1835.2. The contract is on 100 ounces of gold. Your initial margin requirement

You have taken a short position in a gold futures contract at $1835.2. The contract is on 100 ounces of gold. Your initial margin requirement is 9%. If you offest the contract when the futures price is $1857.7, what was your rate of return? Note: Answer in percent, report two decimal places.

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