Question: Show step by step George Seby is thinking about doing some speculating in interest rates. He thinks rates will fall and, in response, the price

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George Seby is thinking about doing some speculating in interest rates. He thinks rates will fall and, in response, the price of Treasury bond futures should move from 90-9.4, their present quote, to a level of about 94. Given a required margin deposit of $1,280 per contract, what would George's return on invested capital be if prices behave as he expects? If prices behave as he expects, George's return on invested capital will be 289.55 %. (Round to two decimal places.)

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