Assets Long Equity Positions Total Long Equity $130 $130 Liabilities and Equity Equity supporting short positions Equity supporting long positions Free Equity Total equity (NAV) ? ? ? $100 ? $15 Cash in money market acct. Initial cash margin Cash proceeds from short sale Total Cash Total A Margin loan on long positions Short equity positions Total Liabilities Total E + L $65 $30 $95 $195 $65 $195 You can assume that the long/short positions were just initiated. Suppose that the maintenance margin for the long positions are 25 %. How far can the long positions decline in value before the fund manager receives a margin call (rounded to the nearest dollar)? Choose the option where the margin ratio is closest to 25 %. A. The dollar value of long positions can decline from $130 to $100 B. The dollar value of long positions can decline from $130 to $98 C. The dollar value of long positions can decline from $130 to $87 D. The dollar value of long positions can decline from $130 to $65 O E. The dollar value of long positions can decline from $130 to $0