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You've just opened a margin account with $16,000 at your local brokerage firm. You instruct your broker to purchase 1.200 shares of Landon Golf stock,

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You've just opened a margin account with $16,000 at your local brokerage firm. You instruct your broker to purchase 1.200 shares of Landon Golf stock, which currently sells for $24 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 1200 shares Liabilities and account equity Margin loan Account equity Total Total

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