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An investor is bullish in XYZ stock. He decides to buy on margin 1 , 0 0 0 shares at market price of $ 5

An investor is bullish in XYZ stock. He decides to buy on margin 1,000 shares at market price of $50.00. The initial margin is 60%, and the maintenance margin is 30%. Margin loan has 5% interest rate per year. What is last stock price that will avoid a margin call? Ans.: $________.
A)26.14
B)28.58
C)28.57
D)26.13

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