1. Dale the farmer has half million which he used to buy stock on margin, assume he borrowed all he could at a zero percent interest rate. At what price will he receive a margin call if his brokers require a 50% initial margin and 31% maintenance margin or equity position. Assume the current price is 53. For this question please round your answer to the nearest whole number.

2.

Below are some listings of bids and some listings of asking prices for a Hulltopia stock:

Bid Quantity Ask Quantity

54.37 1000 54.50 300

53.88 3000 54.75 400

53.50 1500 54.80 400

53.20 4000 55.01 6000

If you sold 2590 stocks what would be the average price per share?

Please use 5 decimal places in your response