You wish to sell short 100 shares of XYZ Corporation stock. If the last two transactions were at $34.10 followed by $34. 15, you only can sell short on the next transaction at a price of 

a. 34.10 or higher
b. 34.15 or higher
c. 34.15 or lower
d. 34.10 or lower

CFA examination questions are reprinted with permission of the CFA Institute. Copyright 1988 the CFA Institute, Charlottesville, VA. All rights reserved.