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Three months ago, you purchased 100 shares of stock on margin. The initial margin requirement on your account is 70 percent and the maintenance margin

Three months ago, you purchased 100 shares of stock on margin. The initial margin requirement on your account is 70 percent and the maintenance margin is 40 percent. The call money rate is 4.2%/year and you pay 2.0% above that rate. The purchase price was $22 per share. Today, you sold these shares for $25.00 each. What is your annualized rate of return?

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