At what price is the maintenance margin first violated

Reference no: EM13300517

Beverly Hibbert opens a new margin account with an inital margin requirement of m and a maintenance margin requirement of (m - 0.2). She used the account to purchase stock for $24,512, borrowing to the full extent allowable. At what price is the maintenance margin first violated, assuming that there is no interest or dividends paid to or from the margin account?

Reference no: EM13300517

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