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Penelope would like to short-sell 100 shares in Hardwood Ltd as she believes the prices...

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Finance

image Penelope would like to short-sell 100 shares in Hardwood Ltd as she believes the prices are going to fall. The initial margin is 40 percent and Hardwood Ltd sells at $46 per share. How much money does Penelope need to have in her margin account to complete this transaction? $2,760 None of these answers. $4,600 $11,500 $1,840

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