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( Answer is not a 4 0 % ) You decide to buy 1 , 1 0 0 shares of stock at a price of

(Answer is not a 40%)
You decide to buy 1,100 shares of stock at a price of $82 and an initial margin of 80 percent. What is the maximum percentage decline in the stock price before you will receive a margin call if the maintenance margin is 40 percent?
Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Input the amount as a positive value.
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