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You've borrowed $16,000 on margin to buy shares in Ixnay, which is now selling at $40 per share. Your account starts at the initial margin

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You've borrowed $16,000 on margin to buy shares in Ixnay, which is now selling at $40 per share. Your account starts at the initial margin requirement of 50%. The maintenance margin is 35%. Two days later, the stock price falls to $38 per share. a. Will you receive a margin call? O Yes No b. How low can the price of lxnay shares fall before you receive a margin call? (Round your answer to 2 decimal places.) or lower Margin call will be made at price

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