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9) Harry bought 100 shares of stock at a price of $48 a share. He used his 60% margin account to make the purchase. Harry

9) Harry bought 100 shares of stock at a price of $48 a share. He used his 60% margin account to make the purchase. Harry sold his stock after a year for $40 a share. Ignoring margin interest and trading costs, what is Harry's return on investor's equity for this investment

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