*Please show work and explain*

An investor bought 100 shares of Copier Corp. for $90 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, and commissions on the purchase were $15 and on the sale were another $15. The price of the stock rose to $120 in one year.

What is the percentage return earned on the investment if the stock is bought on margin? Show answer in percentage terms to two places