Homework 1 Due on September 24, 2019 1. You want to buy shares of Delta stock which is selling for $19 a share. Your margin account currently has available cash of $4,800. What is the maximum number of shares you can purchase if the initial margin requirement is 70 %? 2. You purchased 1,200 shares of stock for $54 a share. The initial margin was 70% and the maintenance margin is 35%. What is the lowest that the stock price can go before you receive margin call? a 4. Matt short sold 600 shares of stock at $10.50 a share. The initial margin is 80 percent and the maintenance margin is 50 percent. The stock is currently selling for $6.80 a share. What is Matt's account equity at this time? Ignore margin interest