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An investor does two transactions. He buys 400 shares of Pepsi at $55 per share using his margin account. He sells short 100 shares of

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An investor does two transactions. He buys 400 shares of Pepsi at $55 per share using his margin account. He sells short 100 shares of IBM at $70. The initial margin is 60%. The call money rate is 8%. The maintenance margin is 35%. At what price will the investor receive a margin call on Pepsi? $33.85

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