There is now $300k leftover in cash. If I start withdrawing cash, the leverage goes up, and I can easily match the 1.45 in the first example. Suppose I withdraw $75k in cash:
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There is now $300k leftover in cash. If I start withdrawing cash, the leverage goes up, and I can easily match the 1.44 in the first example. Suppose I withdraw $75k in cash: