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A hedge fund manager has borrowed two stocks, stock A and B, from a securities lender for 30 days. The hedge fund manager thinks that

A hedge fund manager has borrowed two stocks, stock A and B, from a securities lender for 30 days. The hedge fund manager thinks that both the stocks are overvalued in the market and decides to short both stocks. After borrowing the stocks, the hedge fund manager sells stock A for $99 and stock B for $81 in the current market immediately. Once the 30 days pass, the hedge fund manager buys stock A for $105 and stock B for $61 and returns both the stocks to the securities lender. 


If transaction costs and fees are $5 per stock for the 30-day period, what is the profit/loss the hedge fund manager made for the 30-day period?

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