Calculating Profits from buying Puts

Hello guys, If I own 300 shares of a stock with average price of $15.13.
I would like to buy 3 puts strike price of $16 for 4.05 premium expires in 2 weeks. Let's say in 2 weeks, the stock won't reach $16 (way below 16). What will my profits (or losses) be?
Is this a right equation to calculate to profits or loss? (16x300) - [(15.13x300) + (4.05x300)]
Thank you in advance.
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