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Question 6 The initial margin requirement on a stock purchase is 5 5 % . You fully use the margin allowed to purchase 2 0

Question

6

The initial margin requirement on a stock purchase is

55 % .

You fully

use the margin allowed to purchase

200

shares of TSLA at $

548.74 .

The maintenance margin requirement is

23 % .

At which share price

would first receive a Margin Call? Enter your answer in the box below.

Round your answer to two decimals.

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