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You open a margin account at a discount broker. You buy 10 shares of Sherwin Williams at $583.54 a share, on 60% margin, with a
You open a margin account at a discount broker. You buy 10 shares of Sherwin Williams at $583.54 a share, on 60% margin, with a maintenance margin of 30%. You pay brokerage costs of $10 total to buy the stock. To what price must the stock drop before you get a margin call? (Dollars and cents) Show work please and thank you very much!
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