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Shares 1,000 Initial margin requirement 50% Maintenance margin requirement 30% Broker call rate 2% You purchased stock at $10 a share, the price has dropped

Shares 1,000 Initial margin requirement 50% Maintenance margin requirement 30% Broker call rate 2% You purchased stock at $10 a share, the price has dropped to $6.43 a share, and you can't meet the margin call. You have determined that your broker will sell 258.63 shares. After the sale, what is the value of your loan?

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