Question: You post the required initial margin and buy one coffee futures contract for 37,500 pounds of coffee at a futures price of $1.783 per pound.

You post the required initial margin and buy one coffee futures contract for 37,500 pounds of coffee at a futures price of $1.783 per pound. At the close of the trading day, the futures price is $1.785 per pound and your account balance is $4175. You did not receive margin calls and did not add funds during the day. What must be the initial margin requirement, to the nearest dollar?

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