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Problem 3-15 You've borrowed $28,000 on margin to buy shares in Ixnay, which is now...

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Problem 3-15 You've borrowed $28,000 on margin to buy shares in Ixnay, which is now selling at $40 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 $38 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 or lower

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