An investor bought 400 shares of stock when its price was $40 per share. The price of the stock is now up to $75 per share and the investor decides to hedge his position by purchasing four puts (each priced at $7.50 and each carrying an exercise price of $75). If, by the expiration date of the puts, the price of the stock falls to $50 per share, what is the total net profit the investor would make from the combined position of stock and puts? 2