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You purchase 1 0 0 shares of BAC Stock at $ 3 0 . 0 0 per share using your margin account. The initial equity

You purchase 100 shares of BAC Stock at $30.00 per share using your margin account. The initial equity margin requirement is 60% and you utilize all the debt allowed for the transaction. Your position carries a maintenance (or minimum) equity margin position of 40%. After several days of the purchase, you notice the price of BAC Stock is now $28.00 per share. Assume you close your position and your interest cost is $0.00. What is the return on your investment?

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