Sara Sanders purchased 3030 shares of Apple stock at $189.71 per share using the prevailing minimum initial margin requirement of 59%. She held the stock for exactly 77 months and sold it without any brokerage costs at the end of that period. During the 77-month holding period, the stock paid $1.46 per share in cash dividends. Sara was charged 5.7 % annual interest on the margin loan. The minimum maintenance margin was 25%.

a. Calculate the initial value of the transaction, the debit balance, and the equity position on Sara's transaction.