M$7$ Problem$-13$

Problem $3-13$ Margin Call

Assume an investor shorted Company $Y$ at a price of $$41\mathrm{.}5$ using a $50\%$ margin. This information is summarized in the following table:

At what price would the investor face a $30\%$ maintenance margin call?

The investor would face a $30\%$ maintenance margin call at a price of $$.$ Round your answer to the nearest cent.