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Problem 2-25 Calculating Short Sale Returns (LO4, CFA3) You just sold short 850 shares of Wetscope, Incorporated, a fledgling software firm, at $60 per

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Problem 2-25 Calculating Short Sale Returns (LO4, CFA3) You just sold short 850 shares of Wetscope, Incorporated, a fledgling software firm, at $60 per share. You cover your short when the price hits $50.50 per share one year later. If the company paid $0.67 per share in dividends over this period, what is your rate of return on the investment? Assume an initial margin of 55 percent. Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Rate of return %

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