Suppose that today is 12/31/2020 and you have $60,000 in a brokerage account. You want to use margin and buy as much SPY stock as possible.  

The initial margin is 50%. The maintenance margin is 25%. The SPY stock price is $150 per shares. The annual interest rate on call loan is 10%. A. What is the maximum number of shares you can purchase in this margin account today? B. How far can the price drop before you receive a margin call immediately after your purchase? Questions C, D, and E assume you hold this position for a year and do not make any trades during the year. C. On 12/31/2021, how far can the price drop before you receive a margin call? D. On 12/31/2021, what is your net equity value ($) in your brokerage account if SPY price is $140. E. During the holding period of 12/31/2020 - 12/31/2021, your brokerage company generates an additional $100 revenue for you by lending your shares out. What is your net equity value ($) after one year?