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At the beginning of a trading day, you bought 500 shares of Jasper stock at $41 a share, 100 shares of Tasper at $10 a

At the beginning of a trading day, you bought 500 shares of Jasper stock at $41 a share, 100 shares of Tasper at $10 a share, and 200 shares of Casper at $20 a share. Your initial margin is 60 percent and the maintenance margin is 40 percent. 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 a share. You are also given that the difference in the closing price of Casper per share and the closing price of Tasper per share was $5 per share. And your margin balance was 58 percent. What were the prices of Casper per share and Tasper per share at the end of the trading day? Prepare the balance sheet using the prices at the end of the day and verify that the margin balance is 58%. Ignore the interest payments on the margin loan. [Hint: Closing Price of Casper per share minus Closing Price of Tasper per share = $5]

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