Jack Edwards bought 250 shares of Almost Anything Inc. at$ 41.66 pershare; he bought the stock on margin of65%

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January 9th, 2018

Not long ago, Jack Edwards bought 250 shares of Almost Anything Inc. at$ 41.66 pershare; he bought the stock on margin of65%.The stock is now trading at$60.15 per share, and the Federal Reserve has recently lowered initial margin requirements to 53%. Jack now wants to do a littlepyramiding and buy another400shares of the stock. What is the minimum amount of equity thathe’ll have to put up in thistransaction?

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