Suppose you purchase 950 shares of stock at $63 per share with an initial cash investment of $20,000. The call money rate is 5 percent and you are charged a 1.5 percent premium over this rate.

a. Calculate your return on investment one year later if the share price is $71. Suppose instead you had simply purchased $20,000 of stock with no margin. What would your rate of return have been now? (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places. Omit the "%" sign in your response.)

Rate of return % = ???

Without margin, rate of return % = ???

b. Calculate your return on investment one year later if the share price is $63. Suppose instead you had simply purchased $20,000 of stock with no margin. What would your rate of return have been now? (Negative amounts should be indicated by a minus sign. Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places. Omit the "%" sign in your response.)

Rate of return % = ???

Without margin, rate of return % = ???

c. Calculate your return on investment one year later if the share price is $47. Suppose instead you had simply purchased $20,000 of stock with no margin. What would your rate of return have been now? (Negative amounts should be indicated by a minus sign. Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places. Omit the "%" sign in your response.)

Rate of return % = ???

Without margin, rate of return % = ???