Item8 5 points eBookPrintReferences Check my work Check My Work button is now enabledItem 8Item 8 5 points Problem 2-12 Calculating Margin (LO3, CFA4) Youve just opened a margin account with $10,000 at your local brokerage firm. You instruct your broker to purchase 400 shares of Landon Golf stock, which currently sells for $47 per share. a. What is your initial margin? (Enter your answer as a percent rounded to 2 decimal places.) b. Construct the equity account balance sheet for this position.