You purchase 450 shares of 2nd Chance Co. stock on margin at a price of...
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You purchase 450 shares of 2nd Chance Co. stock on margin at a price of $60. Your broker requires you to deposit $17,000. a. Suppose you sell the stock at a price of $68. What is your return? What would your return have been had you purchased the stock without margin? (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.)
b. What is your return if the stock price is $59 when you sell the stock? What would your return have been had you purchased the stock without margin? (A negative value should be indicated by a minus sign. Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.)
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