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1. You purchased 200 shares of stock on margin. The purchase price was $22 a share. The initial margin requirement on your account is 70

1. You purchased 200 shares of stock on margin. The purchase price was $22 a share. The initial margin requirement on your account is 70 percent and the maintenance margin is 40 percent. It is now six months later and the market price is $19 per share. Show your new balance sheet position.

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