Question 716.1. In April 2017, Portfolio Manager Jeff believed that the shares of Chorizo Fast Casual Restaurants Incorporated ("Chorizo Inc"), trading at $380.00 per share, were over-valued. He instructed his broker to short 1,000 shares. In May, Chorizo Inc paid a dividend of $6.00 per share. In July, due to a food contamination incident, the shares plummeted to $333.00, when Jeff closed out his position. The total borrowing fee was $1,500.00. What was Jeff's net profit?