(Answered) You buy 700 shares of stock at a price of 70 and an initial

Management Studies

You buy 700 shares of stock at a price of $70 and an initial margin of 55 percent. If the maintenance margin is 40 percent, at what price will you receive a margin call? (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "tiny_mce_markerquot; sign in your response.)

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