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You recently created a margin account with $19,000. You tell your broker to purchase 450 shares of Apple Inc which currently sells for $55. A.

You recently created a margin account with $19,000. You tell your broker to purchase 450 shares of Apple Inc which currently sells for $55.

A. Create an equity balance sheet

B. What is your initial margin percentage?

C. Assume the stock falls to $30, what would a new balance sheet look like and what would the new margin be?

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