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Problem 4-05 A year ago, Kim Altman purchased 240 shares of BLK, Inc. for $25.00 on margin. At that time the margin requirement was 30

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Problem 4-05 A year ago, Kim Altman purchased 240 shares of BLK, Inc. for $25.00 on margin. At that time the margin requirement was 30 percent. If the interest rate on borrowed funds was 5 percent and she sold the stock for $31.00, what is the percentage return on the funds she invested in the stock? Round your answer to two decimal places

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