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Last year, Richard sold short 300 shares of GM short for $85 per share. Initial margin is 55% and maintenance margin is 40%. (1) If
Last year, Richard sold short 300 shares of GM short for $85 per share. Initial margin is 55% and maintenance margin is 40%. (1) If the price today, went down to $70, what was his margin percentage? Did he get a margin call? (2) If it went up to $100, what was his margin percentage? Did he get a margin call?
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