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You have $20,000 to invest and you have decided to buy Shake Shack (SHAK) on margin. Your broker requires an initial margin of 60% and

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You have $20,000 to invest and you have decided to buy Shake Shack (SHAK) on margin. Your broker requires an initial margin of 60% and a maintenance margin of 40%. Currently, Shake Shack is trading for $160 per share. Assume you bought 208 shares in question # 1, how far can the price fall before your broker issues a margin call? $115.92 110.24 $98.76 $106.41 $102.82

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