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You purchased 100 shares of IBM common stock on margin at $76 per share. Assume the initial margin is 50%, and the maintenance margin is
You purchased 100 shares of IBM common stock on margin at $76 per share. Assume the initial margin is 50%, and the maintenance margin is 30%. Below what stock price level would you get a margin call? Assume the stock pays no dividend; ignore interest on margin. Answers must be entered with 2 decimal places and no dollar signs, e.g. 6 as 6.00;32.346 as 32.35
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