You purchase 950 shares of 2nd Chance Co. stock on margin at a price of $29. Your broker requires you to deposit $18,500.

1.	What is your margin loan amount? (Do not round intermediate calculations. Omit the "$" sign in your response.)

Margin loan

$ 9050

2.	What is the initial margin requirement? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Omit the "%" sign in your response.)

Margin requirement

%