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The stock of Flop Industries is trading at $19. You feel the stock price will...

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Accounting

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The stock of Flop Industries is trading at $19. You feel the stock price will decline, so you short 1000 shares at an initial margin of 65 percent. If the maintenance margin is 40 percent, at what share price will you receive a margin call? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Margin call price

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