James has conducted an analysis on the share price of Microsoft at the beginning of November 2020. Based on his analysis, the Microsoft share price is overvalued and there is an expected price correction soon. To act on that, he decided to use his share margin account to short sell 1000 Microsoft shares at US\$100 per share. During the month of November 2020, Microsoft paid a dividend of US\$3 per share. The share margin account facility requirements are as below: Required: (a) Calculate the minimum US\$ amount that he must have in his account to make the short sell trade. Explain why the broker requires a trader to maintain his maintenance margin on a regular basis. (4 marks) (b) One month later, the price of Microsoft increased to US\$115 per share. Was there a margin call? If yes, calculate the amount he has to top up to cover for the margin call. (6 marks) (c) He decided to close his position at the beginning of December 2020. Calculate the total gain/loss (in \%) from his initial investment. (6 marks) (d) Discuss what other alternative engagements from James to take advantage of his prediction on Microsoft stock price movement besides short selling. ( 9 marks)