Problem $4$: Portfolio with short position $(5$ points$)$

Consider a portfolio consisting of a short position in $10,000$ shares of Facebook and the

necessary collateral. At the time the short position was created, Facebook's share price was

$$40.$ The proceeds from shorting these shares, along with the $50\%$ margin requirement, were

invested in US treasury bonds maturing in $10$ years.

$($a$)$ What is the liquidation value of the portfolio on the day it was formed?

Liquidation Value: $600000$