Problem 3-01 You have $25,800 to invest in Sophie Shoes, a stock selling for $60 a share. The initial margin requirement is 65 percent. Do not round intermediate calculations. Round your answers to two decimal places. Use a minus sign to enter negative values, if any. a. Ignoring taxes and commissions, calculate your rates of return if the stock rises to $90 a share and if it declines to $20 a share assuming you pay cash for the stock. Rate of return if the stock rises to $90 a share: 50.00 % Rate of return if the stock declines to $20 a share: -66.67 % b. Ignoring taxes and commissions, calculate your rates of return if the stock rises to $90 a share and if it declines to $20 a share assuming you buy it using maximum leverage. Rate of return if the stock rises to $90 a share: 76.98 % Rate of return if the stock declines to $20 a share: -102.64 %