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An investor bought on margin 1 0 0 shares of Copier Corp. for $ 8 5 a share. The firm paid an annual dividend of

An investor bought on margin 100 shares of Copier Corp. for $85 a share. The firm paid an annual dividend of $4 a share; the margin requirement was 60 percent with an interest rate of 8 percent on borrowed funds. The price of the stock rose to $120 in one year.Compute the return in percentage earned on the investment if the stock is bought on margin.

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