Question: 4. [5 points) Danny entered into five lumber contracts. Each lumber futures contract is for 110,000 board feet. The contract requires an initial margin of

4. [5 points) Danny entered into five lumber contracts. Each lumber futures contract is for 110,000 board feet. The contract requires an initial margin of $5,400 per contract and a maintenance margin of $4,950 per contract. Prices are in US dollars per 1,000 board feet. Complete the following chart and the questions below: Day Price Settle Price Day Gain Cumulative Gain Margin Balance Margin Call 1 783.9 2 771.9 3 783.9 4 775.7 5 777.2 6 745.0 7 716.5 8 700.6 9 668.8 10 703.0 11 718.9 12 689.5 13 665.9 14 649.5 15 672.2 684.2 17 663.0 16 a. What is the amount of the initial margin for Danny's entire position? b. What is the amount of the maintenance margin for Danny's entire position

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