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  3. you purchase 500 shares of 2 nd chance co. stock o

You purchase 500 shares of 2 nd Chance Co. stock on margin at a price...

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Accounting

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You purchase 500 shares of 2 nd Chance Co. stock on margin at a price of $55. Your broker requires you to deposit $16,000. a. Suppose you sell the stock at a price of $59. What is your return? What would your return have been had you purchased the stock without margin? (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.) b. What is your return if the stock price is $53 when you sell the stock? What would your return have been had you purchased the stock without margin? (A negative value should be indicated by a minus sign. Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.)

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