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Suppose you have $30,000 to invest. You're considering Miller-Moore Equine Enterprises (MMEE), which is currently selling for $50 per share. You notice that a put

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Suppose you have $30,000 to invest. You're considering Miller-Moore Equine Enterprises (MMEE), which is currently selling for $50 per share. You notice that a put option with a $50 strike is avallable with a premium of $3.00. Calculate your percentage return on the put option for the 6 -month holding period if the stock price declines to $46 per share. (A negative value should be indicated by a minus sign. Leave no cells blank - be certain to enter " 0 " wherever required. Do not round intermediate calculations. Enter your 6 month return as a percent rounded to 2 decimal places.)

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