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Suppose that you buy as much as you can of Macy's for $17.84 per share. You have $5,500 and borrow the remainder. The initial margin

Suppose that you buy as much as you can of Macy's for $17.84 per share. You have $5,500 and borrow the remainder. The initial margin level is 70%. If the maintenance margin level is 48%, at what price will you receive a margin call?

A. $10.30 B. $12.34 C. $17.57 D. $19.45

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