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Jonna recently purchased 6 0 0 shares of Deltona stock for $ 4 3 . 0 0 a share. Her broker required a cash payment

Jonna recently purchased

600

shares of Deltona stock for $

43.00

a share. Her broker required a cash payment of $

11, 615,

plus trading costs, for the purchase. What is the initial margin requirement on this particular stock?

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