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Problem 3-24 (Algo) Suppose that XTel currently is selling at $30 per share. You buy 600 shares using $12,600 of your own money, borrowing

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Problem 3-24 (Algo) Suppose that XTel currently is selling at $30 per share. You buy 600 shares using $12,600 of your own money, borrowing the remainder of the purchase price from your broker. The rate on the margin loan is 10%. Required: a. What is the percentage increase in the net worth of your brokerage account if the price of XTel immediately changes to () $33, (1) $30: (i) $27? (Leave no cells blank- be certain to enter "O" wherever required. Negative values should be indicated by a minus sign. Round your answers to 2 decimal places.) Percentage gain () Percentage gain () Percentage gain % b. If the maintenance margin is 30%, how low can Xhi's price fall before you get a margin call? (Round your answer to 2 decimal places.) Price

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