Old Economy Traders opened an account to short sell 1,000 shares of Internet Dreams at $52 per share. The initial margin requirement was 50%. (The margin account pays no interest.) A year later, when you closed the account, the price of Internet Dreams has risen from $52 to $63.

1.[For this question, use the information given regarding Old Economy Traders up above] What was the initial margin you had to add to the account?

A.$52,000, B.$21,000 C.$26,000 D.$78,000

2.[For this question, use the information given regarding Old Economy Traders up above] What was the amount you walk away with when you close the short sale position?A.$63,000 B.$78,000 C.$11,000 D.$15,000