Suppose that you sell short 500 shares of XTel, currently selling for $40 per share, and give your broker $15,000 to est

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Suppose that you sell short 500 shares of XTel,
currently selling for $40 per share, and give your broker $15,000
to establish your margin account.
a) If you earn no interest on the funds in your margin account,
what will be your rate of return after one year if
XTel stock is selling at (i) $44; (ii) $40; (iii) $36?
Assume that XTel has paid a year-end dividend of $1 per
share.
b) If the maintenance margin is 25%, how high can XTel’s
price rise before you get a margin call? Assume that
XTel has paid a year-end dividend of $1 per share.
Please include step by step solutions (formulas)