On March 3, 2023, you shorted ITT at $93.83 a share. You closed out the short on March 17, 2023, at $79.21 a share.

1. What was your initial margin requirement?

2. What was your return after you closed out the short?

3. If you didnt close out the short, how high could the price go without you getting a margin call?

4. If the price increased 20% from the highest it could go without a margin call, what was your actual margin?

5. What was the amount of your margin call?

6. Assume you met the margin call. What was your new equity?

7. Suppose you couldnt meet the margin call. What is the maximum market value you could have?

8. What was the necessary reduction?

9. How many shares will your broker buy?

10. What is the new value of your total assets?

11. What is the new value of your loan?

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