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每天一练：Asset Valuation（资产估价）相关习题3

Calculate the return on investment, when the stock price drops to $20 a share.

 A)
 40%.
 

 B)
 25%.
 

 C)
 38%.
 

 D)
 36%.
 

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Your answer: A was correct!

Proceeds from sale = 400×$25 = $10,000

Initial margin requirement = $10,000 ×50% = $5,000

Total funds in account = $10,000 + $5,000 = $15,000

Total value of securities (TV) = 400 ×20 = $8,000

Equity = total funds －dollars needed to buy back shares = 15,000 －8,000 = $7,000

Profit = 7,000 －5,000 = $2,000

Return = 1,800 / 5,000 = 36%