Nelson Purchased 1,300 Shares of Stock for $15

Nelson purchased 1,300 shares of stock for $15.75 a share. The initial margin requirement is 70 percent and the maintenance margin is 40 percent. What is the maximum percent by which the stock price can decline before he receives a margin call?

A) 30 percent
B) 45 percent
C) 50 percent
D) 65 percent
E) 70 percent