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You've borrowed $9,000 on margin to buy shares in Ixnay, which is now selling at $50 per share. Your account starts at the Initial

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You've borrowed $9,000 on margin to buy shares in Ixnay, which is now selling at $50 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 $45 per share. a. Will you receive a margin call? Yes No b. How low can the price of Ixnay shares fall before you receive a margin call? (Round your answer to 2 decimal places.) Margin call will be made at price $ 35.71 or lower

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