Problem 3-11 Margin for Short Position A stock sells for $54.00 per share. You sell short 100 shares using a 50% margin. A year later, the price has fallen to $46.00. This information is displayed in the following table: (a) What is the initial equity you must have to initiate the trade? You must have an initial equity of $ to initiate the trade. (b) What is your percent equity position at the end of the year? At the end of the year your percent equity position is \%. Round your answer to 2 decimal places