On January 1, you sold short one round lot (that is, 100 shares) of Lowe's stock at $21.70 per share. On March 1, a dividend of $1.20 per share was paid. On April 1, you covered the short sale by buying the stock at a price of $16.00 per share. You paid 45 cents per share in commissions for each transaction.

a.What is the proceeds from the short sale (net of commission)?

Proceeds from the short sale $

b.What is the dividend payment?

Dividend payment $

c.What is the total cost, including commission, if you have to cover the short sale by buying the stock at a price of $16.00 per share?

Total cost including commission $

d.What is the net gain from your transaction?

Net gain $