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1 3 . An investor buys $ 8 , 0 0 0 worth of a stock priced at $ 4 0 per share using 5

13. An investor buys $8,000 worth of a stock priced at $40 per share using 50% initial margin. The broker charges 6% on the margin loan and requires a 30% maintenance margin. In one year the investor gets a margin call. At the time of the margin call the stock's price must have been ____.
A. $20.00
B. $29.77
C. $30.29
D. $32.45

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