Tate Industries stock is selling for $16 a share. You would like to purchase as many shares of this stock as you can. Your margin account currently has available cash of $6,000 and the initial margin requirement is 75%. What is the maximum number of shares you can buy?
A) 281 shares
B) 375 shares
C) 300 shares
D) 450 shares
E) 500 shares
Correct Answer:
Verified
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