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Assume that an investor buys 100 shares of a stock at $50 per share with an initial margin of 60%. If the maintenance margin is

Assume that an investor buys 100 shares of a stock at $50 per share with an initial margin of 60%. If the maintenance margin is 30%, at what stock price will there be a margin call?

a. $28.57

b. $42.86

c. $15.00

Please show calculation and why. Thank you.

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