Question: please explain clearly and show all steps with meaning. answer correctly and i will provide a like Suppose you bought 50 shares of the Cheesecake

please explain clearly and show all steps with meaning. answer correctly and i will provide a like

Suppose you bought 50 shares of the Cheesecake Factory (ticker symbol CAKE) stocks at $32 per share using a 50% initial margin. That is, 50% of the purchase is financed with a loan, and the other 50% is your own equity. If I will face a margin call when equity hits 25%, at what price will I get a margin call? (Ignore margin interest charges, transaction cost, and dividends) Show your work (either in formula or calculator inputs \& outputs) to receive full score. Hint: work on the chapter exercise problems first

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