You've borrowed $12,000 on margin to buy shares in Disney, 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 $14 per share.
a. Will you receive a margin call? No or Yes
b. How low can the price of Disney shares fall before you receive a margin call? (Round your answer to 2 decimal places. Omit the "tiny_mce_markerquot; sign in your response.)
Margin call will be made at price $ ________ or lower