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USE THE INFORMATION BELOW FOR THE FOLLOWING PROBLEM(S)

Question 40

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USE THE INFORMATION BELOW FOR THE FOLLOWING PROBLEM(S)
Kathy Smith has a margin account with a balance of $60,000. Initial margin requirements are 80 percent, and Jackson Industries is currently selling at $40 per share.
-Refer to Exhibit 3.3. How many shares of Jackson can Kathy buy?


A) 1875
B) 1500
C) 1750
D) 1200
E) 950

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