2. The Charter Principal Brokerage (CPB) firm is failing and about to close. Webster has been a client of CPB for five years and has an individual brokerage account with $400,000 in fully-paid stocks and a joint brokerage account with his spouse, Casey, with $500,000 in fully-paid stocks. In addition, Casey has an individual brokerage account at CPB with $400,000 in fully-paid stocks. Which of the following best describes how these accounts will be covered by the Securities Investor Protection Corporation (SIPC)?