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Assume you purchased 200 shares of GE common stock on margin at $70 per share from your broker. If the initial margin is 55%, how

Assume you purchased 200 shares of GE common stock on margin at $70 per share from your broker. If the initial margin is 55%, how much did you borrow from the broker?

A) $6,000

B) $4,000

C) $7,700

D) $7,000

E) $6,300

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