Matt short sold 600 shares of stock at $10.50 a share.The initial margin is 80 percent and the maintenance margin is 50 percent.The stock is currently selling for $6.80 a share.What is Matt's account equity at this time? Ignore margin interest.
A) $3,070
B) $5,590
C) $7,260
D) $9,950
E) $11,510
Correct Answer:
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