Item$8$

$10$

points

Time Remaining $3$ hours $5$ minutes $55$ seconds$03$:$05$:$55$

eBookPrintReferencesCheck my workCheck My Work button is now enabled$1$Item $8$

Time Remaining $3$ hours $5$ minutes $55$ seconds$03$:$05$:$55$

On January $1,$ you sold short one round lot $($that is$,100$ shares$)$ of Snow's stock at $$21\mathrm{.}70$ per share. On March $1,$ a dividend of $$1\mathrm{.}20$ per share was paid. On April $1,$ you covered the short sale by buying the stock at a price of $$16\mathrm{.}00$ per share. You paid $45$ cents per share in commissions for each transaction.

Required:

a$.$ What is the proceeds from the short sale $($net of commission$)?$