You$$ve borrowed $$40,000$ on margin to buy shares in Ixnay, which is now selling at $$20$ per share. Your account starts at the initial margin requirement of $50\%.$ The maintenance margin is $35\%.$ Two days later, the stock price falls to $$15$ per share.

Required:

Will you receive a margin call?

How low can the price of Ixnay shares fall before you receive a margin call?