You sold short 100 shares of british petroleum common stock, Ask an Expert

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You sold short 100 shares of British Petroleum common stock on margin at $29.09 per share. Assume the initial margin is 50% and the maintenance margin is 30%. One year later, the stock price closes at $32.10, and it has paid cash dividends of $2.40 per share. What is your return on equity? Ignore margin interest. Enter your answer rounded to two decimal places.

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Financial Management, Finance

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