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enrique purchased 1 , 6 0 0 shares of stock for 1 8 . 7 5 a Eshare. The initial margin requirement is 7 0

enrique purchased

1, 600

shares of stock for

18.75

a Eshare. The initial margin requirement is

70 %

and the maintenance margin is

40 % .

What is the maximum percent by which the stock price can decline before he receives a margin call?

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