60. Using margin, a trader bought 100 shares of a $150 stock. The initial margin was 35 percent and the maintenance market was 25 percent. If the price immediately drops to $125, the trader's margin account balance will be closest to:

a. $2,750.

b. $3,125.

c. $3,635.

d. $3,950.

e. $7,250.

f. None of the above answers is correct.

61. Using the data in the previous question, the trader will:

Not receive a margin call.

Receive a margin call for $4,375.

Receive a margin call for $1,625.

Receive a margin call for $2,500.

Receive a margin call for $375.

None of the above answers is correct.