Currently the price of Mattco stock is $30 a share. You have $30,000 of your own funds to invest. Using 80% maximum margin allowed, what is your percentage profit or loss under the following situations (ignore dividends and taxes)? What would the percentage profit or less be in each situation if margin were not used?

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a. you purchase the stock and it rises to $33 a share

b. you purchase the stock and it falls to $23 a share