Andy currently has $5,400 that he wants to invest in Best Sell Companys stock, which currently is

Question:

Andy currently has $5,400 that he wants to invest in Best Sell Company’s stock, which currently is selling for $30 per share. The brokerage firm through which Andy invests has a 60 percent margin requirement and a 50 percent maintenance margin. If he margins the maximum amount, how many shares of Best Sell can Andy buy? At what price will Andy receive a margin call?