Pass Traders opened an account to short-sell 1,000 shares of Internet Dreams at $130 per share. The initial margin requirement was 50%. A year later, the price of Internet Dreams has risen from $130 to $140, and the stock has paid a dividend of $2 per share.

a. Compute the remaining margin in the account.

b. If the maintenance margin requirement is 30%, will Pass Traders receive a margin call? Show all computations.