Problem $4-03$

A stock is currently selling for $$40\mathrm{.}00$ a share. What is the gain or loss on the following transactions? Use a minus sign to enter the amount as a negative value. Round

your answers to the nearest cent.

a$.$ You take a long position and the stock's price declines to $$27\mathrm{.}85.$

$

b$.$ You sell the stock short and the price declines to $$27\mathrm{.}85.$

$

c$.$ You take a long position and the price rises to $$47\mathrm{.}15.$

$

d$.$ You sell the stock short and the price rises to $$47\mathrm{.}15.$