You recently purchased 1,300 shares of stock at a cost per share of $54.10.The initial margin requirement on this stock is 60 percent and the maintenance margin is 30 percent.The stock is currently valued at $42.30 a share.What is your current margin position? Ignore margin interest.
A) 46.91 percent
B) 48.84 percent
C) 63.05 percent
D) 65.28 percent
E) 78.18 percent
Correct Answer:
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