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22. On January 1, 2004, Karen sold stock A short for 50 with a margin requirement of 80%. On December 31, 2004, the stock

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22. On January 1, 2004, Karen sold stock A short for 50 with a margin requirement of 80%. On December 31, 2004, the stock paid a dividend of 2, and an interest amount of 4 was credited to the margin account. On January 1, 2005, Karen covered the short sale at a price of X, earning a 20% return. Calculate X. (A) 40 (B) 44 (C) 48 (D) 52 (E) 56

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