You short-sell 31 shares at $21.16. Your Initial Margin requirement is 55%. How much money do you have to put up for margin (the amount of equity or the collateral)?

When you "short-sell", you borrow share which you sell and collect the money. However, to prevent default risk, your broker will require that you put money in collateral in your margin.

Find what is the %Margin formula to find how much Equity you need to put up.

{Enter you answer in $ with 2 decimals}