Sara Sanders purchased 3030 shares of Apple stock at $189.71 per share using the prevailing minimum initial margin requirement of 59%. She held the stock for exactly 77 months and sold it without any brokerage costs at the end of that period. During the 77-month holding period, the stock paid $1.46 per share in cash dividends. Sara was charged 5.7 % annual interest on the margin loan. The minimum maintenance margin was 25%.

b. For each of the following share prices, calculate the actual margin percentage, and indicate whether Sara's margin account would have excess equity, would be restricted, or would be subject to a margin call:

(1) $175.59 (2) $206.04 and (3) $122.97.