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You purchased 1 0 0 shares of IBM common stock on margin at $ 3 1 per share. Assume the initial margin is 5 0

You purchased 100 shares of IBM common stock on margin at $31 per share. Assume the initial margin is 50%, and the maintenance margin is 30%. Below what stock price level would you get a margin call? Assume the stock pays no dividend; ignore interest on margin. Answers must be entered with 2 decimal places and no dollar signs, e.g.6 as 6.00;32.346 as 32.35.

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