You've just opened a margin account with $16,000 at your local brokerage firm. You Instruct your broker to purchase 700 shares of Landon Golf stock, which currently sells for $30 per share. a. What is your initial margin? (Enter your answer as a percent rounded to 2 decimal places.) Initial margin % b. Construct the equity account balance sheet for this position Assets 700 shares Liabilities and account equity Margin loan Account equity Total Total