You sell 100 shares of Norton Corporation short. The price of the stock is $60 per share. The margin

You sell 100 shares of Norton Corporation short. The price of the stock is $60 per share. The margin requirement is 50 percent. a. How much is your initial margin? b. If stock goes down to $42, what is your percentage gain or loss on the initial margin (equity)? c. If stock goes up to $67.50, what is your percentage gain or loss on the initial margin (equity)? d. In part c , if the minimum margin standard is 30 percent, will you be required to put up more margin? (Do the additional necessary calculations to answer this question.)