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3 . On January 1 , you sold short one round lot ( i . e . , 1 0 0 shares ) of Disney

3. On January 1, you sold short one round lot (i.e.,100 shares) of Disney (DIS) stock at $120 per share. On March 1, a dividend of $2 per share was paid. On April 1, you covered the short sale by buying the stock at a price of $115 per share. You paid 50 cents per share in commissions for each transaction. What is the value of your account on April 1?

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