You short sold 400 shares of a stock at $51 a share. The initial margin is 50% and the maintenance margin is 25%. What is the amount of your liability for this transaction as initially shown on your account balance sheet? Select one:

a. $7,650

b. $5,100

c. $15,300

d. $10,200

e. $20,400

The answer is d or e? what does it mean initial transaction? The first transaction that is shown on the Liability and Equity?