Answer: 465

Problem 50.7 Jenna sells short a stock for 1000. One year later she buys the stock for 1000. The stock pays a dividend of 10. Jenna earns 10% on her margin requirement of 60%. Jordan sells short a stock for 500. Jordan's stock does not pay a dividend. Jordan earns 5% on his margin requirement of 60%. When Jordan buys the stock one year later, he earns a yield that is twice that earned by Jenna. Determine the price that Jordan paid to purchase his stock