Matt short sold 900 shares of stock at $11.50 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) $2,070
B) $3,590
C) $10,350
D) $11,950
E) $12,510
Correct Answer:
Verified
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