Use the following information for the next two questions. Suppose that you sell short 200 shares of XYZ, currently selling for $60 per share, and give you broker $8,000 to establish your margin account.

a) If the maintenance margin is 30%, how high can XYZ's price rise before you get a margin call? (Format of the answer: 64.75 -- don't include $ symbol, round to 2 digits.)

b) Redo part a), but now assume that XYZ also has paid a year-end dividend of $2 per share. (Format of the answer: 64.75 -- don't include $ symbol, round to 2 digits.)