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You have bought on margin for 2,000 shares of a stock which traded at $80 per share. Given that the initial margin is 40% and
You have bought on margin for 2,000 shares of a stock which traded at $80 per share. Given that the initial margin is 40% and the maintenance margin is 30%, find the initial position and show when you will receive a margin call from your broker. (Correct to 2 decimal places) (Show all work.)
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