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You purchased 3000 shares of Microsoft common stock on margin at $80 per share. Assume the initial margin is 70%, and the maintenance margin is

You purchased 3000 shares of Microsoft common stock on margin at $80 per share. Assume the initial margin is 70%, and the maintenance margin is 30%. What will be your initial position? If the share price falls below to $50 per share, what will be your new position and percentage of margin?

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