You buy 300 shares of Microsoft on margin that are currently selling at $30 per share. You post the 50% margin required on the purchase. Your cost of borrowed funds for buying on margin is 4% per year. What will be your rate of return if after 1 year Microsoft is selling at $27? (Ignore any dividends)

A) -10%

B) -16%

C) -20%

D) -24%