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Problem 3 - 1 5 Short Position Margin Assume an investor shorted 1 , 0 0 0 shares of Company Y at $ 2 4

Problem 3-15 Short Position Margin
Assume an investor shorted 1,000 shares of Company Y at $24.50 using a 50% margin. Following a sharp rise in the stock to $31.85, the
investor has received a maintenance margin call. At this point, the investor is required to wire sufficient funds to bring account equity back to
50%. This information is summarized in the following table:
How much in additional funds must be added to the account to bring account equity back to 50%?
Additional funds in the amount of $, must be added to the account. Round your answer to the nearest cent.
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