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Barbara purchased 100 shares of IBZ at 35 using a 60% initial margin. Due to unexpected news the stock price drops the next day to
Barbara purchased 100 shares of IBZ at 35 using a 60% initial margin. Due to unexpected news the stock price drops the next day to 25 and Barbara receives a margin call. How much money does Barbara need to put on her account, if the broker requires that she restores the % margin to the initial 60% level? Provide your answer rounded up to the next dollar. Show all calculations with formulas.
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