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3. Suppose you buy 100 shares of a stock at $12 per share, then another 100 at $10 per share, and then sell 150 shares at $15. You have to pay taxes on the gain, but exactly what is the gain? In the United States, the FIFO rule holds: You first sell all shares of the first batch for a profit of $300, then 50 of the shares from the second batch, for a profit of $250, yielding a total profit of $550. Write a program that can make these calculations for arbitrary purchases and sales of shares in a single company. The user enters commands buy quantity price, sell quantity price (which causes the gain to be displayed), and quit. Hint: Keep a queue of objects of a class Block that contains the quantity and price of a block of shares.

3. Suppose you buy 100 shares of a stock at $12 per share, then another 100 at $10 per share, and then sell 150 shares at $15. You have to pay taxes on the gain, but exactly what is the gain? In the United States, the FIFO rule holds: You first sell all shares of the first batch for a profit of $300, then 50 of the shares from the second batch, for a profit of $250, yielding a total profit of $550. Write a program that can make these calculations for arbitrary purchases and sales of shares in a single company. The user enters commands buy quantity price, sell quantity price (which causes the gain to be displayed), and quit. Hint: Keep a queue of objects of a class Block that contains the quantity and price of a block of shares.

Database System Concepts
Database System Concepts
7th Edition
ISBN:9780078022159
Author:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Publisher:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Chapter1: Introduction
Section: Chapter Questions
Problem 1PE
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3. Suppose you buy 100 shares of a stock at $12 per share, then another 100 at $10 per share, and then sell 150 shares at $15. You have to pay taxes on the gain, but exactly what is the gain? In the United States, the FIFO rule holds: You first sell all shares of the first batch for a profit of $300, then 50 of the shares from the second batch, for a profit of $250, yielding a total profit of $550. Write a program that can make these calculations for arbitrary purchases and sales of shares in a single company. The user enters commands buy quantity price, sell quantity price (which causes the gain to be displayed), and quit. Hint: Keep a queue of objects of a class Block that contains the quantity and price of a block of shares.
Transcribed Image Text:3. Suppose you buy 100 shares of a stock at $12 per share, then another 100 at $10 per share, and then sell 150 shares at $15. You have to pay taxes on the gain, but exactly what is the gain? In the United States, the FIFO rule holds: You first sell all shares of the first batch for a profit of $300, then 50 of the shares from the second batch, for a profit of $250, yielding a total profit of $550. Write a program that can make these calculations for arbitrary purchases and sales of shares in a single company. The user enters commands buy quantity price, sell quantity price (which causes the gain to be displayed), and quit. Hint: Keep a queue of objects of a class Block that contains the quantity and price of a block of shares.
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