Question: Problem 2-12 Calculating Margin (LO3, CFA4) You've just opened a margin account with $15,000 at your local brokerage firm. You instruct your broker to purchase

Problem 2-12 Calculating Margin (LO3, CFA4) You've just opened a margin

Problem 2-12 Calculating Margin (LO3, CFA4) You've just opened a margin account with $15,000 at your local brokerage firm. You instruct your broker to purchase 800 shares of Landon Golf stock, which currently sells for $26 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 800 shares Margin loan Account equity Total Total

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