Exercise 1 (choose the closest to what you find) Mr. White's margin account has an initial margin of 65% and a maintenance margin of 30%. The spot price of stock GM is $220 per share and Mr. White has $35321 in his margin account What is the maximum number of shares Mr. White can buy on margin? (5 pts) (A) 247 (B) 31 (C) 123 (D) 361 Exercise 2 (choose the closest to what you find) Mrs. Basmajian's margin account has an initial margin of 55% and a maintenance margin of 40%. The spot price of stock APL is $300 per share and Mrs. Basmajian wants to buy 170 shares of APL on margin. How much should Mrs. Basmajian have in her account before buying the shares? (5 pts) (A) $39850 (B) $350 (C) $28050 (D) $72950 Exercise 3 (choose the closest to what you find) Mrs. Brady's margin account has an initial margin of 60% and a maintenance margin of 30%. The spot price of stock HR is $280 per share and Mrs. Brady has $41328 in her margin account What is the maximum number of shares Mrs. Brady can short sell? (5 pts) (A) 246 (B) 396 [C) 95 (D) 123 Zoom