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15. You've borrowed $20,000 on margin to buy shares in Ixnay, which is now selling at $40 per share. Your account starts at the initial

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15. You've borrowed $20,000 on margin to buy shares in Ixnay, which is now selling at $40 per share. Your account starts at the initial margin requirement of 50%. The maintenance margin is 35%. Two days later, the stock price falls to $35 per share. a. Will you receive a margin call? b. How low can the price of Ixnay shares fall before you receive a margia call? 16. On January 1, you sold short one round lot (i.e., 100 shares) of Four Sisters stock at $21 per share. On March 1, a dividend of \$2 per share was paid. On April 1, you covered the short sale by buying the stock at a price of $15 per share. You paid 50 eents per share in commissions for each transaction. What is the value of your account on April 1

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