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You've just opened a margin account with $ 3 9 , 8 4 0 at your local brokerage firm. You instruct your broker to purchase

You've just opened a margin account with $39,840 at your local brokerage firm. You instruct your broker to purchase 800 shares of Landon Golf stock, which currently sells for $83 per share. Suppose the call money rate is 7 percent and your broker charges you a spread of 1.5 percent over this rate. You hold the stock for three months (or 90 days) and sell at a price of $90 per share. The company paid a dividend of $0.45 per share the day before you sold your stock.
a. What is your total dollar return from this investment?
Note: Do not round intermediate calculations. Round your answer to 2 decimal places.
Answer is complete but not entirely correct.
\table[[Dollar return,$,5,412.75
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