A timber farmer has entered into two long futures contracts to buy wood in August for 15.80 per tonne. The size of each contract is 1,000 tons. The initial margin is3,000 and the maintenance margin is 2,000 per contract. Which of the following futures prices represents the smallest change that will allow withdrawing2,000 from the margin account?
1) $13.80
2) $14.80
3) $15.80
4) $16.80
5) $17.80