You$$ve borrowed $$20,000$ on margin to buy shares in Ixnay, which is now selling at $$40$ per share. Your account starts at the initial margin requirement of $50\%.$ The maintenance margin is $35\%.$ Two days later, the stock price falls to $$35$ per share.

a$.$ Will you receive a margin call?

b$.$ How low can the price of Ixnay shares fall before you receive a margin call? $($Round your answer to $2$ decimal places.$)$

$8,000$; $4,680$; No; $-41\mathrm{.}5\%$

$4,500$; $5,250$; Yes; $-50\mathrm{.}5\%$

$8,000$; $4,680$; Yes; $-22\mathrm{.}5\%$

$7,000$; $5,680$; No; $-30\mathrm{.}5\%$