Commissions at time when the margin requirement

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Reference no: EM131077936

Three hundred shares of stock are purchased on margin at a price of $42 per share plus $150 in brokerage commissions at a time when the margin requirement is 50 percent. How much additional cash would you need to deposit with your broker if the price of the stock dropped to $37 per share? Please show steps.

Reference no: EM131077936

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