A trader buys 3,000 shares of stock on margin posting 55 percent of the initial stock price of $60 as equity.

(1) If stock price rises to $72 per share one year later, What is the rate of return on the investment?

(2) If stock price falls to $48 per share one year later, What is the rate of return on the investment?

(3) If the trader buys all the shares without borrowing, what is the rate of return on the investment if stock price rises to $72 per share one year later?

(4) If the trader buys all the shares without borrowing, what is the rate of return on the investment if stock price falls to $48 per share one year later? Assuming the margin account pays no interest