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An investor is aiming to buy 400,000 shares of the stock shown on the order book below. Al orders shown remain in place before execution. Buy Orders (Bids) Price 27.12 27.10 27.09 27.05 27.01 Quantity 45,267 71,186 101,254 125,666 254,157 Sale Orders (Offers) Price 27.16 27.17 27.19 27.20 27.23 Quantity 100,047 153,111 211,156 257,986 341,098 What is the average execution price correct to three decimal places?

An investor is aiming to buy 400,000 shares of the stock shown on the order book below. Al orders shown remain in place before execution. Buy Orders (Bids) Price 27.12 27.10 27.09 27.05 27.01 Quantity 45,267 71,186 101,254 125,666 254,157 Sale Orders (Offers) Price 27.16 27.17 27.19 27.20 27.23 Quantity 100,047 153,111 211,156 257,986 341,098 What is the average execution price correct to three decimal places?

Essentials Of Investments
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
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An investor is aiming to buy 400,000 shares of the stock shown on the order book below. All orders shown remain in place before execution. Buy Orders(Bids) Price 27.12 27.10 27.09 27.05 27.01 Quantity 45,267 71,186 101,254 125,666 254,157 Sale Orders (Offers) Price 27.16 27.17 27.19 27.20 27.23 Quantity 100,047 153,111 211,156 257,986 341,098 What is the average execution price correct to three decimal places?
Transcribed Image Text:An investor is aiming to buy 400,000 shares of the stock shown on the order book below. All orders shown remain in place before execution. Buy Orders(Bids) Price 27.12 27.10 27.09 27.05 27.01 Quantity 45,267 71,186 101,254 125,666 254,157 Sale Orders (Offers) Price 27.16 27.17 27.19 27.20 27.23 Quantity 100,047 153,111 211,156 257,986 341,098 What is the average execution price correct to three decimal places?
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