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You bought 400 shares of Brooklyn Trading Co. on margin at $55 per share yesterday. Initial...

You bought 400 shares of Brooklyn Trading Co. on margin at $55 per share yesterday. Initial margin and maintenance margin are 35% and 45% respectively. The stock price per share goes down to $52 today. What is the equity value today on your margin account and what is the margin percent as of today?  

6,500, 31.3%

14,300, 51.3%

19,750, 51.3%

7,700, 31.3%

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