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Andrew wants to purchase 76 shares of Elephant Corp, currently trading at $110. Andrew will contribute $3,511.20 toward the purchases and borrow the remainder from
Andrew wants to purchase 76 shares of Elephant Corp, currently trading at $110. Andrew will contribute $3,511.20 toward the purchases and borrow the remainder from a broker. What is the price to which shares can fall before a margin call is triggered, assuming a maintenance margin of 0.29?
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