You purchase 700 shares of 2nd Chance Co. stock on margin at a price of $46. Your broker requires you to deposit $16,500.

a. Suppose you sell the stock at a price of $52. What is your return? What would your return have been had you purchased the stock without margin? (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.)

b. What is your return if the stock price is $44 when you sell the stock? What would your return have been had you purchased the stock without margin? (A negative value should be indicated by a minus sign. Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.)