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Problem 3 - 1 9 ( Algo ) You are bearish on Telecom and decide to sell short 1 0 0 shares at the current

Problem 3-19(Algo)
You are bearish on Telecom and decide to sell short 100 shares at the current market price of $43 per share.
Required:
a. How much in cash or securities must you put into your brokerage account if the broker's initial margin requirement is 50% of the value of the short position?
b. How high can the price of the stock go before you get a margin call if the maintenance margin is 30% of the value of the short position? (Round your answer to 2 decimal places.)
Stock price reaches
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