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Gabe Purchased 300 Shares of LifeLock Stock at $22

Question 88

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Gabe purchased 300 shares of LifeLock stock at $22.50 per share. Gabe used a call loan from his broker to finance 40% of the purchase. If the maintenance margin was 25%, to what price could the stock go before Gabe would get a margin call? Report the price at which Gabe would first get a margin call.

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Purchase Cost: 300 x 22.50 = $...

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