You purchase 13,099 shares of ABC on March 1 at a price of $20.65 per share. ABC declares a dividend of $0.20 per share

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You purchase 13,099 shares of ABC on March 1 at a price of
$20.65 per share. ABC declares a dividend of $0.20 per share on
March 31. Simultaneously, on March 1, you sell SHORT 4,644 shares
of XYZ at a price of $40.14 per share. XYZ declares a dividend of
$0.33 per share on April 30. On May 31, ABC is down 7% and XYZ is
up 10% from their respective March 1 values. Assume that (A) your
account's equity on March 1 is $300,000 all in cash before placing
any trades and (B) there are no trading commissions. All dividends
received are kept as cash in your account, which is also used to
pay any dividends accrued. The broker pays interest of 0.5% on any
cash balances, charges interest of 2% on any margin loans, assesses
a fee of 0.25% on borrowed securities, and allows trading with a
50% margin requirement, which you intend to maximize. All rates are
expressed as effective annual, all transactions take place in the
same calendar year, and you can assume (A) a generic 30-day month
and (B) no margin recalculation before May 31. What will be the
equity (net asset value) of your account on May 31?
Question 21 options:
$263,164
$269,743
$276,322
$282,901
$289,480