Suppose you purchase 700 shares of stock at 52 per share, Ask an Expert

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Suppose you purchase 700 shares of stock at $52 per share with an initial cash investment of $14,000. If your broker requires a 35 percent maintenance margin, at what share price will you be subject to a margin call? (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "$" sign in your response.)

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