[Taken from Krulik, Rudnick p. 131 with modifications by Stephanie Wilcox)

Marge, Mike, and Mindy decide to play cards. They agree on the following procedure: When a player loses a game, he or she will double the amount of money that each of the other players already has. First Marge loses a hand and doubles the amount of money that Mike and Mindy have. Then Mike loses a hand and doubles the amount of money that Marge and Mike have. Then Mindy loses a hand and double the amount of money that Marge and Mike have. The three players then decide to quit, and they find that each player now has $8. Who was the biggest loser?

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