Use the following information to answer Questions 7-8: Suppose you “sell to open a short position” one December 2022 Ult

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Use the following information to answer Questions 7-8:
Suppose you “sell to open a short position” one December 2022
Ultra 10-year T-Note futures contract at the contract price of
134’065 in CME. The initial margin requirement on the Ultra 10-year
T-Note futures contract is $2,860 and the maintenance margin
requirement is $2,600.
7. Calculate your cash flows and account balance for the first,
second, and third days assuming that the settlement price of the
contract turns out to be 135’110 at the end of the first day,
135’010 at the end of the second day, and 134’040 at the end of the
third day. Contract size is $100,000.
8. Suppose you closed your short position in one December 2022
Ultra 10-year T-Note futures contract on the last trading day of
the contract. Suppose the contract settlement price at the end of
the last trading day was 133’185 in CME. Calculate your profit/loss
from the short position.