Question
THIS IS A TWO-PART QUESTION, AND YOU MUST GET BOTH PARTS CORRECT TO RECEIVE CREDIT. PART 1: Yong sells a share of Kindred short at
THIS IS A TWO-PART QUESTION, AND YOU MUST GET BOTH PARTS CORRECT TO RECEIVE CREDIT. PART 1: Yong sells a share of Kindred short at $7.10 per share, and at some future date covers his short position (gets out of his short position) when Kindred is trading at $3.55. What is Yong's profit or loss on the trade? $ Place your answer with dollars and cents without a dollar sign. Enter a loss (negative answers) with a "minus" sign. For example, if your answer is a loss of two dollars and seventy five cents, then enter -2.75. YOU ARE NOT FINISHED. NOW GO ON TO THE SECOND PART! PART 2. What is the MOST that Yong can gain on this short trade? Place your answer in dollars and cents. If you believe the answer is "no limit to the amount of gain" then place the answer of 9999 (that is, type 4 consecutive 9's in the answer box) $
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started