What must be initial margin requirement to nearest dollar

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Reference no: EM131327862

You post the required initial margin and buy one coffee futures contract for 37, 500 pounds of coffee at a futures price of $1.811 per pound. At the close of the trading day the futures price is $1.787 per pound and your account balance is $4086. 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?

Reference no: EM131327862

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