b. Tom purchases 1,000 shares of ZAX stock on margin at $60 per share. He borrows $24,000 from the brokerage firm to help pay for the purchase. The interest rate is 2% per month i. How much is the margin in Tom's account when he first purchases ZAX stock? (2 marks) ii. What is the remaining margin in the account if ZAX share price falls to $46 per share after a month? Will he receive a margin call if the maintenance margin requirement is 40%? (4 marks) iii. Determine the rate of return on his investment. (2 marks)