Not longago, Jack Edwards bought 300 shares of Almost Anything Inc. at $42.62 pershare; he bought the stock on margin of 60%. The stock is now trading at $60.06 pershare, and the Federal Reserve has recently lowered initial margin requirements to 54%. Jack now wants to do little pyramiding and buy another 400 shares of the stock. What is the minimum amount of equity thathe'll have to put up in thistransaction?

The minimum amount of equity thathe'll have to put up in this transaction is $ . (Round to the nearestcent.)