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William bought 200 shares of stock at a price of $24 a share. He used 70% margin to make the purchase. He sold his stock

William bought 200 shares of stock at a price of $24 a share. He used 70% margin to make the purchase. He sold his stock after a year for $27 a share. Ignoring margin interest and trading costs, what is his return on the equity for this investment?

A

17.86%

B

15.78%

C

14.67%

D

12.50%

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