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Exhibit 4.8
USE THE INFORMATION BELOW FOR THE FOLLOWING PROBLEM(S)
You sell 100 shares short of AMF Corporation when it is selling at $45 per share. Your margin requirement is 60% and the commission on the sale is $50 and the broker charges 10% annual interest. AMF Corporation paid a $0.50 per share dividend while you were short the stock. After one year you cover your short sale at $35 per share with a $50 commission for the purchase.
-Refer to Exhibit 4.8.What is your total dollar return on this investment?
Predation
The ecological process by which one organism hunts and consumes another organism for sustenance.
Precautionary Principle
A safety principle requiring that an action or policy having the potential to cause harm to the public or to the environment should not be undertaken if the consequences are uncertain or potentially dangerous.
Environmental Protection
Efforts and policies aimed at conserving the natural environment and preventing further degradation due to human activity.
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