Youve borrowed $23,000 on margin to buy shares in Bombardier, which is now selling at $92 per share, and you have invested $23,000 of your own. Your account starts at the initial margin requirement of 50%. The minimum margin is 35%. Two days later, the stock price falls to $87 per share.

a. Will you receive a margin call?

multiple choice

• Yes

• No

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

Price $