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Barbara Simmons purchases 100 shares of Home Depot stock for $189.69 per share, using as little of her own money as she could. Her broker
Barbara Simmons purchases 100 shares of Home Depot stock for $189.69 per share, using as little of her own money as she could. Her broker has a 51% initial margin requirement and a 43% maintenance margin requirement. If the price of Home Depot stock falls to $138.02 per share, what does Barbara need to do to get the account back to the maintenance margin requirement?
To get the account back to the maintenance margin requirement of 43%, Barbara must add $_____ to her margin account. (Round to the nearest cent
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