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47. You have just purchased (on a full margin purchase) 100 shares of IBM Corp. common stock for $108 per share. One year from now

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47. You have just purchased (on a full margin purchase) 100 shares of IBM Corp. common stock for $108 per share. One year from now you expect to sell the stock for $140. The interest charge will be 9%. What return do you expect to earn on your investment? Show all numerical calculations for the answer and ignore commissions. (4 points)

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