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You purchased 500 shares of XON common stock on margin at $40 per share. Assume the initial margin is 50%, and the maintenance margin is
You purchased 500 shares of XON common stock on margin at $40 per share. Assume the initial margin is 50%, and the maintenance margin is 38%. Below what stock price level would you get a margin call? Assume the stock pays no dividend; ignore interest on margin.
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