Suppose that you just purchased 150 shares of Beta Bananas stock for $50 per share. The initial margin requirement is 65.5%, which means the amount borrowed is $2,588. The corresponding balance sheet is below:

Assets		Liabilities and Equity
Stock	$7,500.00	Loan from broker	$2,587.50
		Equity	$4,912.50
Total assets	7,500.00	Total liabilities and equity	$7,500.00

a. Now suppose the price of the stock falls to $37 per share. What is your current margin percentage? (Round your answer to 2 decimal places.)

Margin percentage (answer) %

b. Construct the balance sheet to show the current situation.

Assets		Liabilities and Equity
Stock	$ (answer)	Loan from broker	$ (answer)
		Equity	$ (answer)
Total assets	$ (answer)	Total liabilities and equity	$ (answer)

c. If the maintenance margin is 45%, what is the highest stock price that will trigger a margin call? (Round your answer to 2 decimal places.)

Price $ (answer)