You've borrowed $10,000 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 30%. Two days later, the stock price falls to $35 per share.

b.How low can the price of Ixnay shares fall before you receive a margin call?(Round your answerto2 decimal places.)

Margin call will be made at price ___ or lower