Question: need part a opened a margin account with $18,000 at your local brokerage firm. You instruct your broker to purchase 650 shares of Landon Golf

need part a need part a opened a margin account with $18,000 at your

opened a margin account with $18,000 at your local brokerage firm. You instruct your broker to purchase 650 shares of Landon Golf stock, which currently sells for $41 per share. a. What is your initial margin? (Enter your answer as a percent rounded to 2 decimal places.) Initial margin % b. Construct the equity account balance sheet for this position. Assets Liabilities and account equity 26,650 Margin loan Account equity 650 shares 8,650 18,000 Total 26,650 Total 26,650

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