You purchased 90 shares of a stock at the start of the month, with part of the purchase financed by your broker. The purchase price was $50 per share. Your broker chargers an effective margin rate of 0%. Your initial margin was 80% and you sold all the shares at the end of the month for $56 per share and repaid the loan. The stock paid a $3 dividend per share while you held the stock. What return would you have earned if you had completed the same sequence of events without borrowing from your broker?