You purchase 700 shares of Jenkins Corporation at $33 per share using an initial margin of 60%. The stock is now selling for $46 per share and you want to use the excess equity in your account to pyramid. You want to purchase 400 shares of Layson Corporation at $105 per share. If the minimum initial margin is 50%, what is the minimum amount of equity that you will have to put up in this transaction? $4,900 $5.750 $6,400 $7.100