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OneChicago has just introduced a new single stock futures contract on the stock of Brandex,...

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Accounting

OneChicago has just introduced a new single stock futures contract on the stock of Brandex, a company that currently pays no dividends. Each contract calls for delivery of 1,500 shares of stock in one year. The T-bill rate is 4% per year.
Required:
a. If Brandex stock now sells at $200 per share, what should the futures price be?(Round your answer to 2 decimal places.)
b. Brandex stock now sells at $200 per share. If the Brandex stock price drops by 3.0%, what will be the new futures price and the change in the investor's margin account? (Input all amounts as positive values. Do not round intermediate calculations. Round your answers to 2 decimal places.)
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