Find the stock price, You purchased 400 shares of XYZ

Find the stock price

Reference no: EM1351640

You purchased 400 shares of XYZ common stock on margin at $20 per share. Assume the initial margin is 60% and the maintenance margin is 30%. You would get a margin call if the stock price is below _______________. Assume the stock pays no dividend and ignore interest on margin.

a. $15.71
b. $11.43
c. $13.57
d. $10.14

Reference no: EM1351640

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