ou purchase $200$ shares of ABC stock at $$100/$share$.$ The initial and maintenance margin requirements are $60\%$ and $40\%,$ respectively. You decide to take full advantage of margin $($i$.$e$.,$ you contribute the least amount of cash possible to purchase the stock while borrowing the rest from your broker$).$ Imagine, shortly after purchasing the stock, its price plummets to $$60/$share and you receive a margin call. How many shares of stock would you need to sell in order to pay down the loan sufficiently to get the margin in the account back to the initial margin requirement? Ignore interest expense on the loan.

Multiple Choice

$72$

$89$

$120$