You have bought 300 shares of ABC common stock at $50 per share on margin. The initial margin was 60%. The rest was borrowed from your broker at 10% interest rate.

1. If the maintenance margin is 30%, at what price will you receive a margin call? Show your work.
2. What would your rate of return be if at the end of the year you receive $3/share dividends and sell the stocks at $55 per share? Show your work.