Question: Buck Ewing opened a margin account at a local brokerage firm. Buck's initial in-vestment was to purchase 200 shares of Woodbury Corporation on margin at

Buck Ewing opened a margin account at a local brokerage firm. Buck's initial in-vestment was to purchase 200 shares of Woodbury on margin at $40 per share. Buck borrowed $3,000 from a to complete the purchase.
a. At the time of the purchase, what was the collateral in Buck's account?
b. If Woodbury stock subsequently rises in price to $60 per share, what is the collateral in Buck's account?
c. If Woodbury stock subsequently falls in price to $35 per share, what is the collateral in Buck's account?

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