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Need help please!!! On January 1, you sold short one round lot (that is, 100 shares) of Lowe's stock at $22.50 per share. On March
Need help please!!!
On January 1, you sold short one round lot (that is, 100 shares) of Lowe's stock at $22.50 per share. On March 1, a dividend of $1.40 per share was paid. On April 1, you covered the short sale by buying the stock at a price of $17.50 per share. You paid 55 cents per share in commissions for each transaction. What is the proceeds from the short sale (net of commission)? Proceeds from the short sale $ What is the dividend payment? Dividend payment $ What is the total cost, including commission, if you have to cover the short sale by buying the stock at a price of $17.50 per share? Total cost including commission $ What is the net gain from your transaction? Net gain $Step by Step Solution
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