You are bearish on Telecom and decide to sell short 240 shares at the current market price of $85 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? (Round your answer to the nearest whole dollar.)

Cash or securities to be put into brokerage account : ______________

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.)

Margin call will be made at price : _____________