ABC stock is currently selling for a price per share of $50. It has announced (not yet paid though) its annual cash dividend of $2 per share. To short the stock, the broker charges the client a fee (stock borrow) of 1% p.a, charged at the time the position is covered. The broker IMR is 50% and MMR is 30% for short sales.

Client A sells short 100 shares of ABC stock at $50. A month later, right after the company paid the dividend, the stock makes a new high of $65 per share. To restore a 30% margin, how much cash would client A have to inject into the account (note: no stock borrow fee has been paid)?

Question 35 options:

	$700
	$950
	$1,350
	$1,150