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At the beginning of a trading day using your margin account, you bought 500 shares of Jasper stock at $41.00 a share, 100 shares of

At the beginning of a trading day using your margin account, you bought 500 shares of Jasper stock at $41.00 a share, 100 shares of Tasper at $10.00 a share, and 200 shares of Casper at $20.00 a share. Your initial margin is 0.60 and the maintenance margin is 0.40. Assume that your initial equity is equal to the initial margin requirement. At the end of the day, the closing price of Jasper share was $42.00 a share and that of Tasper was $8.00 a share. And the margin balance of your account was 0.58. What was the price of Casper per share at the end of the trading day? For cross-check, prepare the balance sheet using the prices at the end of the day and convince yourself that your accounts margin balance is 0.58. Ignore the interest payments on the loan.

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