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The initial margin requirement is set at 60%. A customer purchases 100 XRX at $100 per share and deposits $6,000 in the account. If XRX

The initial margin requirement is set at 60%. A customer purchases 100 XRX at $100 per share and deposits $6,000 in the account. If XRX increased in value to $150 per share, how much excess equity would the customer have in the account?

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