Exactly one year ago, you purchased 1,000 shares of stock on margin for $200 per share.

Your broker's initial margin requirement was 60%. Today, the stock is selling for $179 per share. You currently owe one year of 8% interest that has accrued on the loan, and the stock hasnt paid any dividends. What would your rate of return be if you were to close your position today?

answer is (-22.83%)