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Question 1. Margin Account andSettlement Suppose that you bought two one-year gold futures contracts whenthe one-year futures price of gold was US$1,340.30 per troy ounce.You then closed the position at the end of the sixth trading day.The initial margin requirement is US$5,940 per contract, and themaintenance margin requirement is US$5,400 per contract. Onecontract is for 100 troy ounces of gold. The daily prices on theintervening trading days are shown in the following table.DaySettlement Price01340.3011345.5021339.2031330.6041327.7051337.7061340.60Assume that you deposit the initial margin and do not withdrawthe excess on any given day. Whenever a margin call occurs on Dayt, you would make a deposit to bring the balance up to meet theinitial margin requirement at the start of trading on Day t+1,i.e., the next day. b. Fillthe appropriate numbers in the blank cells in the followingtable.DaySettlement price per troy ounceMark-to-MarketOther EntriesAccount BalanceExplanationMargin Call? Y/N0$1340.301$1345.502$1339.203$1330.604$1327.705$1337.706$1340.60