Question: Below is the contract specification for the live cattle futures traded on the Chicago Mercantile Exchange: Tom has just sold 10 April contracts at 92.475

Below is the contract specification for the live cattle futures traded on the Chicago Mercantile Exchange:

Tom has just sold 10 April contracts at 92.475 cents and has deposited $12,000 into its margin account. Assume that the 10 cattle futures is the only position in his account.
At what futures price Tom's margin account will be credited with $5,000.
At what futures price a margin call will be triggered against Tom's margin account.

Contract Name Quoted Unlts Trading Unlt Minlmum Malntenance tuation (tick Margin slze) Margin Live CattleU US cents 40,000 per pound pounds 0.025 cent per $1,080 pound

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