You have a long position in one corn futures contract. Each futures contract calls for the delivery of 5,000 bushels of No. 2 corn. The initial margin was $3,000 and the maintenance margin is $1,500. At the close of trading yesterday, the futures price was $6.18 per bushel and the balance in your margin account was $3,500. Today, the settlement price for corn futures is $5.76. What is the balance in your account at the end of today's trading? Assume that you made the minimum deposit necessary if there was a margin call.
1) $3,000
2) $2,500
3) $2,000
4) $1,500
