An investor buys $ 16,000 worth of a stock priced at $ 18 per share using 70 % initial margin . The broker charges 9 % on the margin loan and requires a 35 % maintenance margin . The stock pays a $...

An investor buys $ 16,000 worth of a stock priced at $ 18 per share using 70 % initial margin . The broker charges 9 % on the margin loan and requires a 35 % maintenance margin . The stock pays a $ 0.60 per share dividend in one year and then the stock is sold at $ 25 per share . What was the investor's rate of return