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Suppose that you SHORT FIVE May 2016 Goldfutures contracts at the opening price of $1,119.40/oz on May 4,2019. You close out your position on May 8, 2019 at a price of$1,110.50/oz. The initial margin and the maintenance marginrequirements are $4,400 per contract and $4,000 per contract,respectively. Contract size is 100 troy ounces per contract. Assumethat you deposit the initial margin in cash for the FIVEcontracts sold and did not withdraw the excess on anygiven day. (15 pts)Complete the table below given the following daily settlementprices. (9 points)DaySettlementPrice ($/oz)BeginningBalanceTotal DailyProfit / LossMargin CallDepositsEndingBalanceMay 4, 2019$1,120.20May 5, 2019$1,118.80May 6, 2019$1,135.00May 7, 2019$1,130.00May 8, 2019What is your total profit (loss) on the contracts yousold?What is your percentage return based on the amount put up asmargin?If, on May 8, 2016, you chose to deliver the gold, what wouldyou receive and what would you be delivering? State clearly thetransactions and the dollar amount involved.