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Suppose the initial margin as established by the Federal Reserve is 3 5 percent. The maintenance margin is 2 0 percent. Suppose that you have

Suppose the initial margin as established by the Federal Reserve is

35

percent. The maintenance

margin is

20

percent. Suppose that you have $

15, 000

in cash that you wish to invest in stock

FEDEW which currently sells for $

60

per share. This stock does not pay dividends.

1 .

If you buy on margin, what is the maximum number of shares that you can purchase?

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