1. A sophisticated investor, B. Graham, sold 750 shares short of Amwell, Inc. at $56 a share. The price of the stock subsequently fell to $42 before rising to $60 at which time Graham covered the position (that is, closed the short position). What was the percentage gain or loss on this investment? Use a minus sign to enter the amount as a negative value. Round your answer to two decimal places.

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2. A year ago, Kim Altman purchased 220 shares of BLK, Inc. for $30.00 on margin. At that time the margin requirement was 50 percent. If the interest rate on borrowed funds was 8 percent and she sold the stock for $44.50, what is the percentage return on the funds she invested in the stock? Round your answer to two decimal places.

%

3.

Lisa Lasher buys 430 shares of stock on margin at $15 per share. If the margin requirement is 40 percent, how much must the stock rise for her to realize a 35-percent return on her invested funds? (Ignore dividends, commissions, and interest on borrowed funds.) Round your answer to the nearest cent.

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