Multiple choice question based on share valuation.
You purchased 100 shares of ABC common stock on margin at $50 per share. Assume the initial margin is 50% and the maintenance margin is 30%. Below the stock price of __________ you would get a margin call. Assume the stock pays no dividend and ignore interest on margin.
A) $35.71
B) $42.86
C) $53.57
D) $57.14