12. Karen just purchased a stock costing $33 on margin, paying $23 and borrowing the remainder from a brokerage firm at 15 percent annual interest. The stock pays an annual dividend of $2. If Karen sells the stock after one year at a price of $50, what is the return on the stock?

a.	27.60 percent
b.	82.61 percent
c.	76.09 percent
d.	58.70 percent
e.	none of the above