What share price will you receive margin call

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The stock of Flop Industries is trading at $25. You feel the stock price will decline, so you short 1,100 shares at an initial margin of 70 percent. If the maintenance margin is 30 percent, at what share price will you receive a margin call? (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "$" sign in your response.)

Reference no: EM131954178

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