You are bearish on Telecom and decide to sell short 100 shares at the current market price of $47 per share.

a.How much in cash or securities must you put into your brokerage account if the broker's initial margin requirement is 50% of the value of the short position?

Initial margin$2350

b.How high can the price of the stock go before you get a margin call if the maintenance margin is 30% of the value of the short position?(Round your answer to 2 decimal places.)