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se the following quotes for JC Penney stock options: Assume you purchased the right to sell 4,600 shares of JC Penney stock in January 2013

se the following quotes for JC Penney stock options:

Assume you purchased the right to sell 4,600 shares of JC Penney stock in January 2013 at a strike price of $37 per share. Suppose the stock sells for $30.55 per share immediately before your options expiration. What is the rate of return on your investment? What is your rate of return if the stock sells for $38.15 per share? (Enter the rates of return for the 3-month period.) (Negative values should be indicated by a minus sign. Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.)

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