7. An investor short sells 350 shares of TLC Telecom that are currently selling for $28 per share. The initial margin and the maintenance margin required by the broker are 50% and 30% respectively. At what stock price will he get a margin call? Assuming that he earns no interest on the funds in his margin account, and the firm does not pay any dividends. *

a. $28.85

b. $31.71

c. $36.50

d. $34.25

e. None of the above