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You purchase 5,000 shares of ABC Company at $34 per share using your margin account. If the stock price declines to $25 per share, how

You purchase 5,000 shares of ABC Company at $34 per share using your margin account. If the stock price declines to $25 per share, how much do you need to have in your account to comply with the maintenance margin of 40%?

a. $60,000

b. $70,000

c. $50,000

d. $45,000

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