Question: Suppose the initial margin on heating oil futures is $ 1 4 , 0 0 0 , the maintenance margin is $ 1 2 ,

Suppose the initial margin on heating oil futures is $14,000, the maintenance margin is $12,000 per contract, and you establish a long position of 12 contracts today, where each contract represents 30,000 gallons. Tomorrow, the contract settles down $0.01 from the previous days price. What is the maximum price decline on the contract that you can sustain without getting a margin call? (Round your answer to 3 decimal places.)
Margin call
cents per gallon

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