You decide to sell 300 shares of Elk Ind short when it is selling at its yearly high of $75.50. Your broker tells you that your margin requirement is 65 percent. While you are short, Elk pays a $1.75 per share dividend. At the end of one year you buy your Elk shares at $68.75, and pay a 8 percent interest rate in the amount borrowed. No commissions are included. What is your rate of return on the investment