You Recently Purchased 1,300 Shares of Stock at a Cost

question 51

Multiple Choice

You recently purchased 1,300 shares of stock at a cost per share of $54.10.The initial margin requirement on this stock is 60 percent and the maintenance margin is 30 percent.The stock is currently valued at $42.30 a share.What is your current margin position? Ignore margin interest.

• A) 46.91 percent
• B) 48.84 percent
• C) 63.05 percent
• D) 65.28 percent
• E) 78.18 percent

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