Question: You've just opened a margin account with $ 2 5 , 7 4 0 at your local brokerage firm. You instruct your broker to purchase

You've just opened a margin account with $25,740 at your local brokerage firm. You instruct your broker to purchase 450 shares of Landon Golf stock, which currently sells for $88 per share. Suppose the call money rate is 5.5 percent and your broker charges you a spread of 1.25 percent over this rate. You hold the stock for four months (or 120 days) and sell at a price of $95 per share. The company paid a dividend of $0.55 per share the day before you sold your stock.
a. What is your total dollar return from this investment?
Note: Do not round intermediate calculations. Round your answer to 2 decimal places.
Answer is complete but not entirely correct.
\table[[Dollar return,$,3,092.41ox
 You've just opened a margin account with $25,740 at your local

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