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Problem 4-04

A sophisticated investor, B. Graham, sold 500 shares short of Amwell, Inc. at $54 a share. The price of the stock subsequently fell to $48 before rising to $69 at which time Graham covered the position (that is, closed the short position). What was the percentage gain or loss on this investment? Use a minus sign to enter the amount as a negative value. Round your answer to two decimal places.

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