Problem 3-04 You decide to sell short 200 shares of Charlotte Horse Farms when it is selling at its yearly high of $51. Your broker tells you that your margin requirement is 65 percent and that the commission on the purchase is $380. While you are short the stock, Charlotte pays a $2.85 per share dividend. At the end of one year you buy 200 shares of Charlotte at $37 to close out your position and are charged a commission of $365 and 10 percent interest on the money borrowed. What is your rate of return on the investment? Do not round Intermediate calculations. Round your answer to two decimal places