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You purchase 246 shares of Gilead Sciences Inc., (GILD) stock on margin at a price of $50. Your broker requires you to deposit 51 percent
You purchase 246 shares of Gilead Sciences Inc., (GILD) stock on margin at a price of $50. Your broker requires you to deposit 51 percent of the initial proceeds. If the maintenance margin is 32%, how far can the stock price drop before there is a margin call?
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