You purchased $480$ shares of WMT common stock on margin at $$44$ per share. Assume the initial margin is $50\%$

and the maintenance margin is $24\%.$ You will get a margin call if the stock drops below

$($Assume the

stock pays no dividends, and ignore interest on the margin loan.$)$

Multiple Choice

$$38\mathrm{.}29$

$$28\mathrm{.}95$

$$29\mathrm{.}30$

$$32\mathrm{.}99$