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Buffet purchased 500 shares of Telsa Motors (TSLA) stock trading at $40 per share. Assume that Buffets account has an initial margin requirement of 60%.

Buffet purchased 500 shares of Telsa Motors (TSLA) stock trading at $40 per share. Assume that Buffets account has an initial margin requirement of 60%. Moreover, suppose Warrens broker requires a maintenance margin of 30%.

Required

Calculate the price at which Buffet will receive a margin call.

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