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Your brokerage firm allows market trading with an initial margin requirement equal to 60 percent plus an 8 percent broker loan rate. You have $6,000

Your brokerage firm allows market trading with an initial margin requirement equal to 60 percent plus an 8 percent broker loan rate. You have $6,000 to invest. How many shares of ABC can you purchase on margin? ABC stock currently sells for $50 a share.

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