Yоu shоrt sell 300 shаres аt $70 per shаre and depоsit 50% initial margin. Six months later, you cover the short at $62 per share. During the holding period, the company pays a dividend of $0.40 per share, which you must reimburse to the share lender.a) Calculate the net dollar profit on the short sale.b) Calculate the holding-period return on the initial margin deposit.c) Calculate the effective annual return.