John Q. Investor takes a short position on 10,000 shares ofMacy’s(M), selling at $228.88 per share o

John Q. Investor takes a short position on 10,000 shares ofMacy’s(M), selling at $228.88 per share on June 19. Dividends areestimated at $16 per year paid quarterly, and the last Ex-date wasMay 25. JQ’s broker charges him $600 for the loan of the sharesevery six months. JQ covers his position on September 17 at $241.26 JQ’s profit on this position is $ _____ JQ’s holding period rate of return is _____ The rate of return on the underlying asset is _____ . . .

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