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QUESTION 1 Use the following to answer the next three questions. Three months ago, you purchased 1000 shares of ABC stock on margin at $15/share.

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QUESTION 1 Use the following to answer the next three questions. Three months ago, you purchased 1000 shares of ABC stock on margin at $15/share. The initial and maintenance margins are 60% and 40%, respectively. Your broker charges you a 6% annual interest rate on borrowed funds. You've received a $1 dividend per share over the course of your investment. ABC trades for $12/share today. Find your current margin. Round intermediate steps and your final answer to four decimals and enter your answer in decimal format (EX: XXXX)

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