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Problem 4-08 Lisa Lasher buys 380 shares of stock on margin at $15 per share. If the margin requirement is 70 percent, how much must

Problem 4-08

Lisa Lasher buys 380 shares of stock on margin at $15 per share. If the margin requirement is 70 percent, how much must the stock rise for her to realize a 40-percent return on her invested funds? (Ignore dividends, commissions, and interest on borrowed funds.) Round your answer to the nearest cent.

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