Tony purchased 200 shares of stock for $28 a share and sold them 4 months later for $32 a share. The initial margin was 60 percent. He received no dividend income. His holding period percentage return from this margin trading was _____ percent. If he did not use the margin, his holding period return would have been _____ percent. (Ignore margin interest and trading costs)

Choices

2.05 %; 11.00%

23.81 %; 14.29%

18.95 %; 16.75%

12.95 %; 11.75%