You$$ve borrowed $$30,800$ on margin to buy shares in Ixnay, which is now selling at $$44\mathrm{.}0$ per share. You invest $1,400$ shares. Your account starts at the initial margin requirement of $50\%.$ The maintenance margin is $35\%.$ Two days later, the stock price changes to $$55$ per share.

Required:

a$.$ Will you receive a margin call?

multiple choice

Yes

No

b$.$ At what price will you receive a margin call? $($Round your answer to $2$ decimal places.$)$