Q-164.3. In March 2011, an investor shorts 10,000 shares of Cisco (CSCO) when the price is $16.00 per share. In April, CSCO pays a dividend of $0.06 per share. In June (three months after initiating the short), the investors close out the short when the price drops to $12.00 per share. During the three months (one quarter), the short also earns a short rebate (interest) of 0.375% on the initial short proceeds; i.e., 1.5% per annum divided by four. Ignoring time value of money, what are the net profits to the short investor?