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You recently purchased 1300 shares of stock at a cost per share of $54.10. The initial margin requirement on this stock is 70% and the

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You recently purchased 1300 shares of stock at a cost per share of $54.10. The initial margin requirement on this stock is 70% and the maintenance margin is 30 percent. The stock is currently valued at $42.30 a share. What is your current margin position? Ignore margin interest. A. 48.84% B. 16.63% C. 61.63% D. None

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