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3. You are bearish on TSM and decide to sell short 2,000 shares at the current market price of $68 per share. TSM pays no

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3. You are bearish on TSM and decide to sell short 2,000 shares at the current market price of $68 per share. TSM pays no dividends. a. How much in cash or securities must you put into your brokerage account if the initial margin requirement is 60%? b. If you earn no interest on the funds in your margin account, what will be your rate of return after a week if TSM is selling at $56 per share? c. How high can the price of the stock go before you get a margin call if the maintenance margin is 40%? (10 marks)

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