A futures contract covers 5000 pounds with a minimum price change of $0.01 is sold for $31.60 per pound. If the initial margin is $2,525 and the maintenance margin is $1,000, at what price would there be a margin call?
a. 31.91
b. 32.11
c. 31.29
d. 31.09
e. 31.80
Answer: A
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