Question - Four days ago you entered into a futures contract to sell €125,000 at $1.41 per euro. The spot exchange rate when you entered the contract was $1.37. Your initial performance bond was $7,300 and your maintenance level was $2,900. Over the past four days (in order) the contract has settled at $1.42, $1.41, $1.45, and $1.43. What should your performance account balance be at the end of the four days? (Assume you do not withdraw excess funds and only add funds if required).
A. $4,800
B. $2,500
C. $11,050
D. $1,250
E. $14,800
F. $9,800