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You purchase 900 shares of 2nd Chance Co. stock on margin at a price of $56. Your broker requires you to deposit $26,000. a. Suppose

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You purchase 900 shares of 2nd Chance Co. stock on margin at a price of $56. Your broker requires you to deposit $26,000. a. Suppose you sell the stock at a price of $65. 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.) Rate of Return (9.51) % With margin Without margin b. What is your return if the stock price is $54 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.) With margin Without margin Rate of Return % %

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