You recently purchased 800 shares of Southern Timber stock for $35 a share. Your broker required a cash payment of $19,600, plus trading costs, for this purchase. What was the initial margin requirement?

Yvette recently purchased 500 shares of stock at a cost per share of $43.50. The initial margin requirement on this stock is 75 percent and the maintenance margin is 40 percent. The stock is currently valued at $44.75 a share. What is her current margin position? Ignore margin interest.