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Use the information below for the following 3 problems. Thanks for your help!***************************1. Jackie has a margin account with a balance of $45,000. If initial margin requirements are 50 percent and Turtle Industries is currently selling at $50 per share: How many shares of Turtle can Jackie purchase?a. 1,800b. 100c. 900d. 10,000e. None of the above
2. Use the same data: What is Jackie's profit if Turtle's price rises to $60?a. $12,000b. $18,000c. $22,000d. $25,750e. $28,570
3. Use the same data as the previous questions. If the maintenance margin is 30 percent, to what price can Turtle Industries fall before Jackie receives a margin call?a. $21.75b. $23.17c. $32.42d. $35.71e. None of the above
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