You've borrowed $23,072 on margin to buy shares in Ixnay, which is now selling at $41.2 per share. You invest 1,120 shares. Your account starts

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You've borrowed $23,072 on margin to buy shares in Ixnay, which is now selling at $41.2 per share. You invest 1,120 shares. Your account starts at the initial margin requirement of 50%. The maintenance margin is 35\%. Two days later, the stock price changes to $41 per share. Required: a. Will you receive a margin call? Yes No b. At what price will you receive a margin call? (Round your answer to 2 decimal places.)

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