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Allen Bagley bought 300 shares of stock at $95.09 per share, using an initial margin of 54%. Given a maintenance margin of 25%, how far
Allen Bagley bought 300 shares of stock at $95.09 per share, using an initial margin of 54%. Given a maintenance margin of 25%, how far does the stock have to drop before Allen faces a margin call? (Assume that there are no other securities in the margin account.) Before Allen faces a margin call, the stock has to drop to \$ per share. (Round to the nearest cent.)
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