A person is interested in constructing a portfolio. Two stocks are being considered. Let x = percent return for an investment in stock 1, and y = percent return for an investment in stock 2. The expected return and standard deviation for stock 1 are 9.82% and 4%. The expected return and standard deviation for stock 2 are 3.30% and 1%. The correlation between these two stocks is -0.75. Calculate the covariance between stock 1 and stock 2.