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William purchased 1000 shares of stock at a price of $32 a share. He utilized his 50% margin account to make the purchase. What is

William purchased 1000 shares of stock at a price of $32 a share. He utilized his 50% margin account to make the purchase. What is William's initial equity in this investment?

$16,000

$48,000

$32,000

$16,000

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