You've just opened a margin account with $$20,000$ at your local brokerage firm. You instruct your broker to purchase $500$ shares of Landon Golf stock, which currently sells for $$60$ 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.

$\backslash$table$[[$Assets$,$Liabilities a$],[500$ shares,,Margin loan$],[,,$Account equit:$],[$Total$,,$Total$]]$