Futures Question Please explain

leadcfa

A silver futures contract requires the seller to deliver 5,000 Troy ounces of silver. An
investor sells one July silver futures contract at a price of $8 per ounce, posting a $2,025
initial margin. If the required maintenance margin is $1,500, the price per ounce at which the
investor would first receive a maintenance margin call is closest to:
A. $5.92.
B. $7.89.
C. $8.11.
D. $10.80.

Makavelim3

Just wondering, what is the exact answer everyone is getting? I know the answer is C, but I’m getting an increase in $0.13 to $8.13. Anyone actually getting $8.11?
BTW, the formula I’m using is:
(x) * (8) * (500) = 525

bcp901

No. You are selling at 8, so you lose if price goes up (buying high and selling low). Price goes up to 8.11, you lose $550, and get a margin call.