A trader submits a market to sell 900 shares. The buy limit orders standing in the stock's order book at the time the order is entered are shown below. None of the limit buy orders are “all or none” orders except for the 800- share bid at $21.90. 250 shares @ $22.05 200 shares @ $22.00 800 shares @ $21.90 900 shares @ $21.80 The proceeds from the sale of the 900 shares, ignoring the trading commission, are closest to:
A trader submits a market to sell 900 shares. The buy limit orders standing in the stock's order book at the time the order is entered are shown below. None of the limit buy orders are “all or none” orders except for the 800- share bid at $21.90. 250 shares @ $22.05 200 shares @ $22.00 800 shares @ $21.90 900 shares @ $21.80 The proceeds from the sale of the 900 shares, ignoring the trading commission, are closest to:
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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59. A trader submits a market to sell 900 shares. The buy limit orders standing in the stock's order book at the time the order is entered are shown below. None of the limit buy orders are “all or none” orders except for the 800- share bid at $21.90.
- 250 shares @ $22.05
- 200 shares @ $22.00
- 800 shares @ $21.90
- 900 shares @ $21.80
The proceeds from the sale of the 900 shares, ignoring the trading commission, are closest to:
a. $18,425.00
b. $19,700.00
c. $19,722.50
d. $19,767.50
e. $20,121.00
f. None of the above answers is correct.
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