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sun lee purchased 1,500 shares of franklin metals stock for $16.80 a share. the stock was purchased with an initial margin of 65 percent. the

sun lee purchased 1,500 shares of franklin metals stock for $16.80 a share. the stock was purchased with an initial margin of 65 percent. the maintenance margin is 30 percent. the stock is currently selling for $17.10 a share. what is the minimum dollar amount of equity that he must have in this stock today to avoid a margin call?

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