Beverly hibbert opens a new margin account with an inital, Ask an Expert

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Beverly Hibbert opens a new margin account with an inital margin requirement of m and a maintenance margin requirement of (m - 0.2). She used the account to purchase stock for $24,512, borrowing to the full extent allowable. At what price is the maintenance margin first violated, assuming that there is no interest or dividends paid to or from the margin account?

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