Suppose that you just purchased 250 shares of Beta Bananas stock for $70 per share. The initial margin requirement is 71.0%, which means the amount borrowed is $5,075. The corresponding balance sheet is below:

a. Now suppose the price of the stock falls to $41 per share. What is your current margin percentage? (Round your answer to 2 decimal places.)

b. Construct the balance sheet to show the current situation. (Round your answers to 2 decimal places.)

c. If the maintenance margin is 50%, what is the highest stock price that will trigger a margin call? (Round your answer to 2 decimal places.)

\begin{tabular}{lllr} \multicolumn{2}{c}{ Assets } & \multicolumn{2}{c}{ Liabilities and Equity } \\ Stock & $17,500.00 & Loan from broker & $5,075.00 \\ & & Equity & $12,425.00 \\ Total assets & 17,500.00 & Total liabilities and equity & $17,500.00 \\ \hline \end{tabular} \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ Assets } & \multicolumn{2}{c|}{ Liabilities and Equity } \\ \hline Stock & & Loan from broker \\ \hline & & Equity \\ \hline Total assets & Total liabilities and equity \\ \hline \hline \end{tabular}