Suppose the call money rate is 6.8 percent, and you pay a spread of 1.9 percent over that. You buy 1,200 shares at $82 per share with an initial margin of 70 percent. One year later, the stock is selling for $88 per share and you close out your position. What is your return assuming no dividends are paid? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

Rate of return

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