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You purchase 201 shares of 2nd Chance Co. stock on margin at a price of $55. Your broker requires you to deposit $5,000. What is

You purchase 201 shares of 2nd Chance Co. stock on margin at a price of $55. Your broker requires you to deposit $5,000. What is the percentage initial margin requirement? (Round your answer to 2 decimal places. Omit the "%" sign in your response.)

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