Youve just opened a margin account with $20,000 at your local brokerage firm. You instruct your broker to purchase 850 shares of Landon Golf stock, which currently sells for $99 per share.

1.	What is your initial margin? (Enter your answer as a percent rounded to 2 decimal places. Omit the "%" sign in your response.)

Initial margin

%

2.	Construct the equity account balance sheet for this position. (Omit the "$" sign in your response.)

Assets		Liabilities and account equity
850 shares	$		Margin loan	$
			Account equity
Total	$		Total	$