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Suppose you believe that Apple's stock price is going to decline from its current level of $ 8 3 . 6 6 sometime during the

Suppose you believe that Apple's stock price is going to decline from its current level of $ 83.66 sometime during the next 5 months. For $ 294.44 you could buy a 5-month put option giving you the right to sell 100 shares at a price of $ 80.00 per share. If you bought a 100-share contract for $ 294.44 and Apple's stock price actually changed to $ 76.20 at the end of 5 months, and after behaving economically rationally on your decision to exercise the option, your net profit (or loss) would be ______? Show your answer to the nearest .01. Do not use $ or + signs in your answer. However, use a - sign if you lose money on the contract.

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