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Assume you enter into 5 long futures contracts to buy July gold for $1,400 per ounce. A gold futures contract size is 100 troy ounces. The initial margin is $14,000 per contract and the maintenance margin is 75% of the initial margin. What change in the futures price of gold will lead to a margin call?
A
$35 drop
B
$70 drop
C
$175 drop
D
$350 drop