USE THE FOLLOWING INFORMATION FOR THE NEXT $2$ QUESTIONS:

You are bearish on Apple stock and decide to sell short $475$ shares at the current market price of $$110$ per share.

$5.$ SHOW YOUR WORK & WRITE YOUR ANSWER CHOICE HERE $q,$ How much in cash or securities must you put into your brokerage account if the broker's initial margin is $60\%$ of the value of the short position?

$6.$ SHOW YOUR WORK & WRITE YOUR ANSWER CHOICE HERE $q,.$

How high can the price of the stock go before you get a margin call if the maintenance margin is $35\%$ of the value of the short position?