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You purchase 335 shares of 2nd Chance Co. stock on margin at a price of $67. The initial margin requirement is 80 percent. a. Calculate
You purchase 335 shares of 2nd Chance Co. stock on margin at a price of $67. The initial margin requirement is 80 percent. a. Calculate the initial deposit. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Initial deposit $ 17,956.00 b. What would be the return if you had purchased the stock a) with margin and b) without margin under the following situations? (A negative value should be indicated by a minus sign. Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.) (1) Assume the stock price is $79 when you sell the stock. With margin Without margin Rate of Return 22.39% 17.91: % (ii) Assume the stock price is $61 when you sell the stock. Rate of Return % With margin Without margin %
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