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Bob short sold 300 shares of stock at $84 per share. The initial margin requirement is 70% and the maintenance margin is 40%. The stock

Bob short sold 300 shares of stock at $84 per share. The initial margin requirement is 70% and the maintenance margin is 40%. The stock is currently trading at $88 per share. What is Bob's account equity at this time? (Express your solution to two decimals of accuracy.)

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