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An investor buys 100 shares of UNA, Inc. at $100 per share using margin of 40%. The interest rate on the margin loan is 6%

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An investor buys 100 shares of UNA, Inc. at $100 per share using margin of 40%. The interest rate on the margin loan is 6% annually. The investor holds the stock for one year. During the year UNA, Inc. paid a dividend of $2 per share and the price increased to $107 per share. What is the holding period return for the margin transaction (include dividends and interest expense in your calculation)? Express your answer as a percent and round to two decimal places. 9.00% 13.50\% 22.50% 5.40%

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