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2. You just bought $8,000 worth of a stock priced at $40 per share using 50% initial margin. The broker charges 6% on the margin

2. You just bought $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. a. At what price would you expect to get a margin call? b. To restore your margin to the initial margin level, how much would you need to deposit?

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