Kendall sells a stock short for a price of 58. During the time Kendall has "borrowed" the stock, the stop pays dividends of 2.4 and 4.1. Kendall is required to give collateral equal to 50% of the sale price (this is the margin). The margin earns an annual rate of interest of 3.1. In one year, Kendall purchases the stock for price X.

Jordan sells a stock short for a price of 111. During the time Jordan has "borrowed" the stock, the stop pays dividends of 4.5 and 4.  Jordan is required to give collateral equal to 50% of the sale price (this is the margin). The margin earns an annual rate of interest of 2.3. In one year, Jordan purchases the stock for price 2X.

Jordan's rate of return is 1.2 times Kendall's rate of return. Determine X.