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3. Suppose a trader shorts 450 shares in April when the price per share is $90 and closes out the position by buying them back

3. Suppose a trader shorts 450 shares in April when the price per share is $90 and closes out the position by buying them back in July when the price per share is $100. Suppose further that a dividend of $1.5 per share is paid in May. Please calculate: (20 marks) a. The net profit for short sale. b. The net profit for long position

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