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Margot purchased a unit comprising one share of stock and one detachable warrant on May 4, 2016. The warrant was exercisable at $22.40 per share,
Margot purchased a unit comprising one share of stock and one detachable warrant on May 4, 2016. The warrant was exercisable at $22.40 per share, good for five years, and trading at $2 per warrant. On September 9, 2017, Margot exercised her warrant. At that time, the stock was selling for $26 per share. How much loss or gain did Margot realize on this purchase?
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