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Tom purchased 584 shares of stock on margin for $29.74 a share and sold the shares 8 months later for $26.11 a share. The initial
Tom purchased 584 shares of stock on margin for $29.74 a share and sold the shares 8 months later for $26.11 a share. The initial margin requirement was 67 percent and the maintenance margin was 34 percent. The interest rate on the margin loan was 10 percent. He received no dividend income. What was his holding period return (in percent)? Answer to two decimals
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