Suppose you buy 100 shares of Kohls stock at a price of $30.55 per share. You use some of your own money and borrow using a margin account for as much as you can. Your initial margin is 50%. You borrow at a rate of 9%. You sell your Kohl's stock 1 year later for $33.50. There were no dividends and no commissions. How much did you borrow?

A.

$1,000

B.

$1,527.50

C.

$1,765.33

D.

$2,334.20