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Miguel Torres purchases 100 shares ofCan'tWin.com for $49.77 pershare, using as little of his own money as he could. His broker has a 60% initial
Miguel Torres purchases 100 shares ofCan'tWin.com for $49.77 pershare, using as little of his own money as he could. His broker has a 60% initial margin requirement and a 26% maintenance margin requirement. The price of the stock falls to $31.88 per share. What does Miguel need todo?
To get the account back to the maintenance margin requirement of 26%, Miguel must add $__(Round to the nearestcent.)
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