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Matt short sold 500 shares of stock at $12.50 a share. The initial margin is 80 percent and the maintenance margin is 50 percent. The

Matt short sold 500 shares of stock at $12.50 a share. The initial margin is 80 percent and the maintenance margin is 50 percent. The stock is currently selling for $9.80 a share. What is Matt's margin ratio at this time? Ignore margin interest.

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