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You've just opened a margin account with $ 2 9 , 5 2 0 at your local brokerage firm. You instruct your broker to purchase

You've just opened a margin account with $29,520 at your local brokerage firm. You instruct your broker to purchase 600 shares of Landon Golf stock, which currently sells for $82 per share. Suppose the call money rate is 7 percent and your broker charges you a spread of 1 percent over this rate. You hold the stock for four months and sell at a price of $90 per share. The company paid a dividend of $0.44 per share the day before you sold your stock.
a. What is your total dollar return from this investment? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
\table[[Dollar return,$,4,553.00
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