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You ve just opened a margin account with $ 1 5 , 0 0 0 at your local brokerage firm. You instruct your broker to

Youve just opened a margin account with $15,000 at your local brokerage firm. You instruct your broker to purchase 700 shares of Landon Golf stock, which currently sells for $32 per share.
What is your initial margin?
Note: Enter your answer as a percent rounded to 2 decimal places.
Construct the equity account balance sheet for this position.

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