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Homework: Assignment 2 (Chapter 2) Save Score: 0 of 2 pts 1 4 of 5 (4 complete) HW Score: 60%, 6 of 10 pts X

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Homework: Assignment 2 (Chapter 2) Save Score: 0 of 2 pts 1 4 of 5 (4 complete) HW Score: 60%, 6 of 10 pts X P2.18 (similar to) Question Help 0 Allen Bagley bought 300 shares of stock at $98.94 per share, using an initial margin of 59%. Given a maintenance margin of 29%, 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 $per share. (Round to the nearest cant)

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