What is the minimum amount of equity that hell have to put, Financial Management

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What is the minimum amount of equity that hell have to put

Not long? ago, Jack Edwards bought 350 shares of Almost Anything Inc. at $42.02 per? share; he bought the stock on margin of 64%. The stock is now trading at $61.64 per? share, and the Federal Reserve has recently lowered initial margin requirements to 53%. Jack now wants to do a little pyramiding and buy another 350 shares of the stock. What is the minimum amount of equity that? he'll have to put up in this? transaction?

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Financial Management: What is the minimum amount of equity that hell have to put

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