Question: You open a new margin account with an initial margin requirement of 65% and a maintenance margin requirement of 45%. You purchase stock for $24,512,

You open a new margin account with an initial margin requirement of 65% and a maintenance margin requirement of 45%. You purchase stock for $24,512, borrowing to the full extent allowable. Assuming there are no dividends or interest paid to or from the margin account, at what price could you first receive a margin call?

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