Allen Bagley bought

300

shares of stock at

$99.87

per share, using an initial margin of

59%.

Given a maintenance margin of

35%,

how far does the stock have to drop before Allen faces a margin call? (Assume that there are no other securities in the margin account.)Before Allen faces a margin call,

the

stock has to drop to

$enter your response here

per share. (Round to the nearest cent.)