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After your experience with Stocktrak, you decide that it is time to open a margin account. So, you purchase 1,050 shares of stock X at

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After your experience with Stocktrak, you decide that it is time to open a margin account. So, you purchase 1,050 shares of stock X at a price of $80.76. In addition, you believe that stock Y is overvalued, thus you decide to short 1,000 shares at a price of $84.85. Your account has an IMR of 50% and an MM of 25%, and your broker will charge you 3.070% APR monthly compounding as interest on any borrowed funds. Assume that you utilize your margin to capacity, you do not earn any interest on cash deposited and all your accounts are aggregated. Suppose that 7 months from now stock X is trading at $99.02. At what price would stock Y have to trade in order for you to receive a margin call? (round your answer to 4 decimals)

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