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You recently purchased 200 shares of stock at a cost per share of $22.25. The initial margin requirement on this stock is 75 percent and

You recently purchased 200 shares of stock at a cost per share of $22.25. The initial margin requirement on this stock is 75 percent and the maintenance margin is 50 percent. The stock is currently valued at $24.00 a share. What is your current margin position? Ignore margin interest.

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