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The current market price for XYZ is $22 per share. Initial margin is 50%, maintenance margin is 35% and margin interest is 1.75% per year.XYZ

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The current market price for XYZ is $22 per share. Initial margin is 50%, maintenance margin is 35% and margin interest is 1.75% per year.XYZ pays annual cash dividends of $0.95 per share.You believe the stock price will increase over the next year and wish to trade long using margin. At what price would you receive a margin call?Enter your answer rounded to two decimal places. Do not enter $ or comma in the answer box. For example, if your answer is $12,300.456 then enter as 12300.46 in the answer box.

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