Stanley has $60,000 in cash that he plans to invest in Corning stock, which is currently selling at $50 per share. He plans to buy the stock on margin by borrowing 40% of the total investment from his broker. How many shares of Corning will Stanley purchase?
A) 1,000
B) 2,000
C) 3,000
D) 4,000
Correct Answer:
Verified
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