Charlene Hickman expected the price of Bio International shares to drop in the near future in response to the expected failure of its new drug to pass FDA tests. As a result, she sold short 200 shares of Bio International at $27.50. How much would Charlene earn or lose on this transaction if she repurchased the 200 shares four months later at each of the following prices per share?

a. $24.75

b. $25.13

c. $31.25

d. $27.00