Colin Owns 100 Shares of RIM Stock

Multiple Choice

Colin owns 100 shares of RIM stock.He purchased the stock for $100 a share.He sold the stock for $75 a share.The commissions required to buy and sell the stock totaled $60.Assuming that he received no dividends during the time he owned the stock, what is his total profit or loss from this transaction?

A) Profit $2,500
B) Profit $60.00
C) Loss $2,500
D) Loss $2,560
E) Loss $2,440