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Question 15 You buy stock on margin in your brokerage account when it is trading at 12 per share. You have 2400 in equity (cash)

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Question 15 You buy stock on margin in your brokerage account when it is trading at 12 per share. You have 2400 in equity (cash) in your account and buy 380 shares. Ignoring transaction and loan costs, if the stock drops in value, at what price would you receive a margin call? Assume a maintenance margin level of 0.3

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