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A year ago, John Chea purchased 300 shares of Supervalue stock for $25.50 on margin. At...

A year ago, John Chea purchased 300 shares of Supervalue stock for $25.50 on margin. At that time the margin requirement was 40 percent. If the interest rate on borrowed funds was 9 percent and he sold the stock for $34, what is the percentage return on the funds he invested in the stock?
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