John is highly optimistic about CSL Ltd$,$ which is selling at $$305$ per share on the $1$st of June $2024.$ He expects the stock to increase by at least $30$ percent over the next few months. To capitalize on this, John decides to use the margin trading facility provided by his broker. The broker requires an initial margin of $60\%$ and a maintenance margin of $40\%.$ John plans to buy $200$ CSL shares using this margin trading facility.

$($a$)$ How much initial investment does John need to make to buy these shares?

$($b$)$ If the price of CSL drops to $$260$ on the $5$th of June $2024,$ would John receive a margin call?

$($c$)$Discuss the reasons why an investor might choose to engage in margin trading rather than purchasing the stock outright, and explore the potential risks associated with this strategy.