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Megan bought 200 shares of stock at a price of $10 a share. She used her 70% margin account to make this purchase. Megan sold
Megan bought 200 shares of stock at a price of $10 a share. She used her 70% margin account to make this purchase. Megan sold her stock after a year for $12 a share. Ignoring margin interest and trading costs, what is Megan's refurn on investor's equity for this investment?
The correct answer is 29%, please show how to get this answer. Thank You!
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