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Sam is purchasing 4 0 0 shares of RPT , Inc., stock at a price per share of $ 3 5 . 5 0 .

Sam is purchasing 400 shares of RPT, Inc., stock at a price per share of $35.50. What is the minimum amount the Federal Reserve will require Sam to pay in cash for this purchase? Note: Initial Margin requirement set by the Federal Reserve is 50%
$9,800
$4,200
$14,200
$7,100
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