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Ms . Speculator sold short 1 5 , 0 0 0 shares of TPHB on October 1 , 2 0 1 9 at $ 3

Ms. Speculator sold short 15,000 shares of TPHB on October 1,2019 at $36.50, and covered her position
on February 14,2020, at $21.25.
a. How much money did Ms. Speculator need to deposit to her margin account on October 1?
$273,750
b. How much money did Ms. Speculator make? What was her rate of return on the investment?
$228,750; 83.56%
initial/maintenance margins are 50%/40%
(150%/130% for short sales)

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