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You decide to sell thort 200 shares of Charlotte Horse Farms when it is selling at its yearly high of $55. Your broker tells you

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You decide to sell thort 200 shares of Charlotte Horse Farms when it is selling at its yearly high of $55. Your broker tells you that your margin requirement is 60 . percent and that the commission on the purchase is $380. While you are short the stock, Charlotte pays a $2.90 per share dividend. At the end of one year, you buy 200 shares of Charlotte ot $42 to close out your position and are charged a commission of $365 and 10 percent interest on the money borrowed. What is your rate of return on the investment? Do not round intermediate calculations. Round your answer to two decimal places

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