A speculator sells a stock short for $55 a share. The company pays a $2 annual cash dividend. After a…

A speculator sells a stock short for $55 a share. The company pays a $2 annual cash dividend. After a year has passed, the seller covers the short position at $45. What is the percentage return on the position (excluding the impact of any interest expense and commissions)? Round your answer to one decimal places.

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