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42Yesterday you took a short position in one December wheat futures contract. The closing futures price (yesterday) was $7 per bushel. There are 5,000bu in the contract. You deposited your initial margin of $3,240 yesterday. (The maintenance margin is $2,400.) Today the wheat futures market closed with a price of $6.75. What is the closing balance in your margin account? A) $1,250 B) $2,400 C) $3,240 D) $3,990 E) $4,490 43Two days ago you took a short position in one December wheat futures contract. The closing futures price (two days ago) was $7 per bushel There are 5,000bu in the contract. You deposited your initial margin of $3,240 two days ago. (The maintenance margin is $2,400.) Yesterday, wheat futures closed at $6.75 per bushel. Today the wheat futures market closed with a price of $7.25. What is the closing balance in your margin account today? A) $1,250 B) $1,990 C) $2,400 D) $$3,240 E) $4,490