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Please show all work and formulas. You are bearish on Apple...

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Finance

Please show all work and formulas. image
You are bearish on Apple Stock and decide to short sell the stock. You sell 3000 shares at $20/share You are required to post an initial margin of 50%, and pay in maintenance margin if the margin level drops below 30%. a. Within hours after you sell short, the stock climbs to $23/share. What is your current margin rate? b. How high can the stock rise in price before you get a margin call? c. The stock rises to $26/share. How much cash will you need to deposit in your account to bring the margin rate up to 30%

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