Question 10 (1 point) Edward, a client of a Canadian brokerage firm, bought 1,000 shares of ABB, a stock that trades on the New York Stock Exchange. He paid Canadian $25.25 per share. This stock is not eligible for reduced margin. Calculate the amount of margin he must put up. 1) $7,575 as it is eligible for 70% margin as it trades on another exchange. 2) $12,625 as it is eligible for 50% margin. 3) $15,150 as it is eligible for 50% margin but an additional 1% is required because of the fluctuating currency risk. 4) $25,250 as stocks trading on other exchanges are not eligible for margin in Canada. Page 10 of 12