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Last week, Matt shorted 200 shares of Pirate stock at $20 per share at an initial margin of 80 percent in his new account; the

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Last week, Matt shorted 200 shares of Pirate stock at $20 per share at an initial margin of 80 percent in his new account; the stock has since increased and closed at $25 per share today. Assuming Matt has no other positions and has added no other cash other than his initial margin requirement, what is his margin (%) level after the price increase? (OMIT any %-signs or $-signs in your answer, i.e., if you get $10.00 or 12.3%, simply enter "10.00" or "12.3" as your answer.)

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