Check my work 6 You've just opened a margin account with $16,000 at your local brokerage firm you instruct your broker to purchase 1.200 shares of London Golf stock, which currently sells for $24 per share a. What is your inital margin? {Enter your answer as a percent rounded to 2 decimal places.) 10 na mag b. Construct the equity account balance sheet for this position Assets 1200 shares Liabilities and account equity Margin loan Account equity Total $ Total 0 Mc Graw Hill