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E) none of the above. Answer: D Difficulty: Moderate Rationale: 150 shares * $27/share * 0.45 = $4,050 * 0.45 = $1,822.50 48. You purchased 100 shares of XON common stock on margin at $60 per share. Assume the initial margin is 50% and the maintenance margin is 30%. Below what stock price level would you get a margin call? Assume the stock pays no dividend; ignore interest on margin. A) $42.86 B) $50.75 C) $49.67 D) $80.34 E) none of the above Answer: A Difficulty: Difficult Rationale: 100 shares * $60 * .5 = $6,000 * 0.5 = $3,000 (loan amount); 0.30 = (100P – $3,000)/100P; 30P = 100P – $3,000; -70P = -$3,000; P = $42.86 49. You purchased 1000 shares of CSCO common stock on margin at $19 per share. Assume the initial margin is 50% and the maintenance margin is 30%. Below what stock price level would you get a margin call? 50. You purchased 100 shares of common stock on margin at $40 per share. Assume the initial margin is 50% and the stock pays no dividend. What would the mai
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