Problem $4-05$

A year ago, Kim Altman purchased $170$ shares of BLK$,$ Inc. for $$22\mathrm{.}50$ on margin. At that time the margin requirement was $40$ percent. If the interest rate on borrowed funds was $6$

percent and she sold the stock for $$32\mathrm{.}00,$ what is the percentage return on the funds she invested in the stock? Round your answer to two decimal places.