Find the cost, at the day's closing price, for the stock purchase below. Include typical discount broker commissions as described in the table, using Broker B.Stock Symbol: GFBNumber of Shares: 2300Transaction Type: Automated (Online)The cost for the stock purchase is $(Simplify your answer.)✅✅✅✅✅✅✅✅ Broker Commissions TableBrokerage Firm ABrokerage Firm BBrokerage Firm CBroker Commissions TableAutomated (Online) Automated (Phone)$3.95$7.95$5.95$7.95$33.99$9.95Broker-Assisted$31.95$43.99$29.95 Stock TableCompanyIncentive CorpFarmer's BankSecond BankGreenfield BankAbility CorpHigh Low79.87 84.35 78.15 81.8462.17 66.53 61.28 63.92299.89 310.78 293.17 304.87259.14 263.06 242.47 251.02281.56 306.05 277.61 292.86Symbol OpenITEFABSNDGFBABCOClose%NetChange Change1.84- 0.871.381.037.781.22%- 0.71%0.03%-0.12%0.58%VolumePE52-WK 52-Wk Annual DividendHigh Low Div Yield11,182,500 91.623.7775.960.06% 23.3648,256,800 72.97 60.61 3.130.616,045,800 325.54 266.550.4842,219,400 269.75 227.973.0592,350,200 310.84 259.960.29% 26.790.02% 26.880.05% 28.970.04% 18.59YTD %Change9.41%-1.28%10.24%19.44%21.73%

The total sum of money spent to purchase a specific number of shares of stock in a particular firm…

Answered: Find the cost, at the day's closing…

Business

Finance

Find the cost, at the day's closing price, for the stock purchase

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 66.4C

See similar textbooks

Related questions

Q: You have an outstanding student loan with required payments of $600 per month for the next four…

A: PMT 1 = $600NPER 1 = 4 years or 4*12 = 48 monthsPMT 2 = $800Interest rate = 9% compounded monthly…

Q: A company has a loan of 80,000 to be paid in 20 level annual payments. The interest and the…

A: Loans are paid by annual payments that carry the interest and loan amount but annual payments are…

Q: Company Z-prime's earnings and dividends per share are expected to grow by 2% a year. Its growth…

A: Dividend discount model is used for calculation of value of stock based on the dividend and growth…

Q: Consider the following financial information and answer the questions that follow: Sales : $250,000…

Q: Corporation A is deciding on an acquisition. Corporation A would buy all shares of corporation B,…

A: Value of firm (dividend growth model) = whereg= Growth rateke- Required rate of return

Q: Using the residential mortgage-debt to income ratio of 28%, and total-debt to income ratio of 36%,…

A: When the borrower borrows a loan from the lender, he has to pay a rate of interest on the borrowed…

Q: Lydia just purchased a Treasury bond for $108.723 at a yield rate of j2=7.68% p.a. The duration of…

A: Price of Treasury Bond$108.723Duration of Bond (in years)9.4099Yield to maturity…

Q: WACC-Book weights and market weights Webster Company has compiled the information shown in the…

A: WEIGHTED AVERAGE COST OF CAPITAL is the average cost to a company of capital. WACC is calculated by…

Q: A mortgage bond issued by Automation Engineering is for sale for $8,800. The bond has a face value…

A: Yield To maturity: Simply means the rate of return the investors can expect on a bond if held till…

Q: Ms. Jones wants to make 6% nominal interest compounded quarterly on a bond investment. She has an…

A: 1. Price of the bond today = Present value of interest payments on bond + Present value of maturity…

Q: ay off a debt that he took out today, Roger will have to make a payment of $3,500 in 15 months and…

A: The loan amount is the present value of payments made for the loan based on time and interest rate…

Q: a. New machine NPV b. New machine IRR c. Old machine NPV d. Old Machine IRR % %

A: The process that helps an investor/entity to decide whether to accept or reject any…

Q: what is the expected Current Yield

A: Yield to maturity (YTM) is the overall rate of return that a bond will have earned after making all…

Q: Find the monthly payment needed to amortize principal and interest for the fixed-rate mortgage. Use…

A: We need to use loan amortization formula below to calculate monthly payment.wherePMT =periodic…

Q: You deposit 6600 in an account with an annual interest rate of 15%. How long will it take for your…

A: In compounding there is interest on interest including the principal amount also and due compounding…

Q: parents shop around and a different bank is willing to lend them a $750,000 30-year mortgage with…

A: Mortgage loans are secured loans and very easy to get and pay with equal monthly payments.

Q: You plan to retire in exactly 20 years. Your goal is to create a fund that will allow you to receive…

A: Present value is an estimate of the present value of future cash values that may be received at a…

Q: A 6.08% annual coupon, 22-year bond has a yield to maturity of 6.95%. Assuming the par value is…

A: Given information,Annual coupon: Number of years: yearsYield to maturity: Par value: To…

Q: Gen Lab is expected to pay out a dividend of $0.75 per share in one year. The expected stock price…

A: Given,expected dividend = $0.75 per shareexpected stock price = $42 per shareExpected return rate =…

Q: You want the beginning price-weighted index of these two stocks to be 500. Given this, what is the…

A: The price weighted index is the calculated by dividing sum of price of shares of the individual…

Q: Time Warner shares have a market capitalization of $55 billion. The company just paid a dividend of…

A: WACC means Weighted average cost of capital.It is computed as follows:-WACC = (kd * wd) +…

Q: A borrower is making a choice between a mortgage with monthly payments or biweekly payments. The…

A: The rate of return, often abbreviated as ROR or RoR, is a measure used to evaluate the profitability…

Q: You purchased $3,400 worth of shares in a mutual fund that does not have a front-end load. However,…

A: In mutual fund the companies charge their fee on selling and the amount received is slightly less…

Q: Where does the $850 go?

A: Coupon Rate =

Q: Please view the following video before answering this question. Click here to watch the video Ten…

A: Yield to maturity is computed as follows:-ytm = whereRV = Redemption valueNP = Net Proceedsytm =…

Q: You have the following rates of return for a risky portfolio for several recent years. Assume that…

A: Average return refers to the value of returns that represents the series of returns that an investor…

Q: sider a stock that is going to pay a dividend of $5 in year 1. Dividends are going to be constant…

A: Dividend discount model can be used to compute the current share price. In this model, current price…

Q: Free cash flow valuation Nabor Industries is considering going public but is unsure of a fair…

A: The value of the enterprise can be the sum total of the market value of all the sources of financing…

Q: our grandmother left you an inheritance that pays $440 at the end of each year for a total of 12…

A: Annual Payment = p = $440Number of payment = n = 12Time until First Payment = t = 5Interest Rate = r…

Q: A bond with a face value of $1,000 matures in 9 years and has a 7% semiannual coupon. The bond…

A: Yield to maturity is the rate of return realized by the bond when bond is held till maturity of bond…

Q: Suppose the interest rate is 3.9%. a. Having $350 today is equivalent to having what amount in one…

A: Time value of money refers to the principle that money available today is worth more than the same…

Q: Ivanhoe, Inc., has net income of $14,964,000 on net sales of $348,000,000. The company has total…

A: As per Dupont model,

Q: A corporation is considering purchasing a machine that will save $150,000 per year before taxes. The…

A: Amount that can be afforded to pay for machine = Present value of net cash inflows from…

Q: pected to generate fixed annual cashflows for 4 years beginning in 3 years from today. If the…

A: Present value is the equivalent value of the future cash flow today based on timing and interest…

Q: what would the account be worth?

A: The projected worth of the initial investment after a certain amount of time, taking into account…

Q: XYZ Corp has the following sales budget: $195,550 $185,950 Sales budget They collect 60% of sales in…

A: Sales budget is that which shows the forcasted sales of coming period on the basis of previous…

Q: You are the manager of a bank that has $15 million in fixed-rate assets, $30 million in…

A: Fixed-rate assets = $15 millionRate-sensitive assets = $30 millionFixed-rate liabilities = $25…

Q: Which one of the popular common stock valuation methods focuses on supply and demand and uses a…

A: The importance of valuing stocks evolves from the fact that the intrinsic value of a stock may be…

Q: Complete the first month of the amortization schedule for a fixed-rate mortgage. Mortgage: $100,000…

A: A mortgage refers to a covered loan that is borrowed to purchase or maintain a property with the…

Q: s quarterback just signed a $10.8 million contract providing $2.7 million a year for 4 yes signed a…

A: Net present value can be calculated as difference between present value of cash flow and initial…

Q: For the following loan, find (a) the finance charge and (b) the APR. Use the accompanying table to…

A: Finance charge = Total amount paid - Amount financed.Total amount paid = amount of monthly payment…

Q: Intro The quoted interest rate is 4.3% (APR with quarterly compounding). Part 1 What is the…

A: In compounding there is interest on interest due to which effective interest rate is much more than…

Q: An investment of $350,000 is made, followed by income of $200,000 each year for three ye There is no…

A: IRR is the break even rate at which present value of cash flow is equal to initial…

Q: Given an interest rate of 8.5 percent per year, what is the value at date t= 8 of a perpetual stream…

A: As per the given question:Interest rate = R= 8.5%Payment= P= $1,900Number of years= T= 14The value…

Q: The Kilgon Corp. is experiencing rapid growth. Dividends are expected to grow at 30 percent per year…

A: To find the projected dividend for the coming year using the information provided, we can calculate…

Q: As the owner of a small startup, you are faced with a few major financial decisions concerning the…

A: Current worth can be referred to as the amount worth today that is expected to be received after n…

Q: The nominal interest rate in US is 3.5% and 5.5% in Canada, and expected inflation in US is 3% and…

A: To calculate the interest rate parity, interest rates are used.To calculate the purchasing power…

Q: JESTION 2 u plan to retire in exactly 20 years. Your goal is to create a fund that will allow you to…

A: Present value is an estimate of the present value of future cash values that may be received at a…

Q: You know that the stated rate of return is not what you really earned. If the inflation rate last…

A: The inflation rate refers to the rate at which the value of the currency decreases over time and the…

Q: The IRR of A (C → B) is%. (Round to one decimal place.)

A: IRR is the rate at which capital investment equals the annual cash inflows and the salvage value.

Question

Find the cost, at the day's closing price, for the stock purchase below. Include typical discount broker commissions as described in the table, using Broker B. Stock Symbol: GFB Number of Shares: 2300 Transaction Type: Automated (Online) The cost for the stock purchase is $ (Simplify your answer.) ✅✅✅✅✅✅✅✅

Broker Commissions Table
Brokerage Firm A
Brokerage Firm B
Brokerage Firm C
Broker Commissions Table
Automated (Online) Automated (Phone)
$3.95
$7.95
$5.95
$7.95
$33.99
$9.95
Broker-
Assisted
$31.95
$43.99
$29.95

Stock Table
Company
Incentive Corp
Farmer's Bank
Second Bank
Greenfield Bank
Ability Corp
High Low
79.87 84.35 78.15 81.84
62.17 66.53 61.28 63.92
299.89 310.78 293.17 304.87
259.14 263.06 242.47 251.02
281.56 306.05 277.61 292.86
Symbol Open
ITE
FAB
SND
GFB
ABCO
Close
%
Net
Change Change
1.84
- 0.87
1.38
1.03
7.78
1.22%
- 0.71%
0.03%
-0.12%
0.58%
Volume
PE
52-WK 52-Wk Annual Dividend
High Low Div Yield
11,182,500 91.62
3.77
75.96
0.06% 23.36
48,256,800 72.97 60.61 3.13
0.61
6,045,800 325.54 266.55
0.48
42,219,400 269.75 227.97
3.05
92,350,200 310.84 259.96
0.29% 26.79
0.02% 26.88
0.05% 28.97
0.04% 18.59
YTD %
Change
9.41%
-1.28%
10.24%
19.44%
21.73%

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1: Introduction:

VIEW

Step 2: Computation of cost of stock purchases:

VIEW

Solution

VIEW

Step by step

Solved in 3 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.

Similar questions

g In | Federa x M UMassD Logor X EQuickLaunch -x K myCourses Da: x Univ of Mass - X * Cengage Die education.com mework i Saved View transaction list Journal entry worksheet 1 4 6 7 8 9. 10 cearch 近

MUMassD Logor X E Quicklaunch - x K. myCourses Da: X Se Univ of Mass - X Ceng g In | Federa x ducation.com Saved mework View transaction list Journal entry worksheet 1 3 4 8 9 10 Provided $57,971 in service to customers during the year, with $21,658 on account and the rest received in cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal 0 日 search
FINANCIAL MANAGEMENT 1.docx - O Search (Alt+Q) Cel File Home Insert Draw Design Layout References Mailings Review View Help A Share P Comments ... I .. I . 1 . . I . 2. : . . 3 ... L . 4 . . . L. .. 5... I .. 6. . I :7.. | Problem 1. 2. Odette Electronics has 90 operating plants in seven southwestern states. Sales for last year were P100 million, and the statement of financial position at year-end is similar in percentage of sales to that of previous years (and this will continue in the future). All assets (including fixed assets) and current liabilities will vary directly with sales. Statement of Financial Position (in P millions) Assets Liabilities and Equity Cash..... P2 Accounts payable.... P15 Accounts receivable... 20 Accrued wages.... 2 Inventory.... 23 Accrued taxes. 8 Current assets.. P45 Current liabilities. P25 Fixed assets... 40 Notes payable... 10 Ordinary shares. 15 Retained earnings... 35 Total assets.. P85 Total liabilities and equity.. P85 Odette's has an after-tax…
23 When the customer pays the money to the company after the discount period, which one of the following journal entry is made by the company? out of Dr. Cash Cr. Trade receivables g question Dr. Trade receivables Dr. Discount Cr. Cash Dr. Discount Dr. Trade receivables Cr. Cash Dr. Cash Dr. Discount Cr. Trade receivables 直 م اكتب هنا ل لبحث TOSHIBA PRTSC F12 F10 F8 CWSAS FS & 7V
Fia Tell me what you want to do Online Link Bookmark Cross- Videos reference Media H Links -- Document! - Word Comment CA Comments IN Header Footer Page Number Header & Footer HORA3.14.56 A A Text Quick WordArt Dro Box Parts Cap Text During the fiscal year ended 31 December, Black Crows Ltd carried out the following transactions involving notes payable: Aug. 6 Borrowed $11,200 from The Doors Ltd issuing to them a 45-day, 5% note payable. Sep. 16 Purchased office equipment from Sofa Ltd. The invoice amount was $16,800 and Sofa Ltd agreed to accept as full payment a 5%, 3-month note for the invoice amount. Sep. 20 Paid the note payable due to The Doors Ltd plus accrued interest. Nov. 1 Borrowed $235,000 from Bank of Cyprus at an interest rate of 5% per annum; signed a 90-day note payable. Dec. 1 Purchased merchandise in the amount of $3,000 from Helios Ltd. Gave in settlement a 90-day interest-bearing note at 6%. Dec. 16 The $16,900 note payable to Sofa Ltd matured. The company paid the…
t.php?attempt%3D1347310&cmid3D701917&page3D2 E-learning services SQU Libraries SQU Portal Attendance English (en) Ali decided to install a new internet fiber service. He signed a contract with Company XYZ. The contract states that Ali pays a monthly subscription fee. Ali's monthly internet cost can be classified as a: t of estion Select one: a. Sunk cost b. Fixed cost C. Moderation cost O d. Mixed cost Oe. Variable cost ious page Next page - Answers to Ch3 Additional Exercises Jump to Exam 1 Part 2- Sp20
Le Univ of Mass * Cengage D: A QuickLaunch K myCourses Da: x In Federa x UMassD Logor x ucation.com Saved ework View transaction list Journal entry worksheet 10 earch 近

AutoSave OFF Home Insert Draw Paste Page 47 of 95 Calibri B I U 20 Design V v 16916 words 50 ab X 2 V Layout X Α Α΄ A References Aa ▾ A Αν English (United States) Mailings = Review V V W= Packet Lecture-4 View 12/31 싫 V Accessibility: Investigate Tell me 30,000 V Estimating Uncollectible Accounts An estimate of bad debts is made at the end of the accounting period to match the cost of credit sales (bad debt expense) with the revenue credit sales allowed the company to record during the period. The estimate is incorporated in the company's books through an ADJUSTING ENTRY and the entry increases the allowance for uncollectible accounts and bad debt expense. Saved to my Mac ✓ Percent of Receivables Method (an allowance method) management estimates a percent of ending accounts receivable they expect to be uncollectible the ending balance of the Allowance for Uncollectible Accounts (AUA) is determined based on the estimate (% of uncollectible accounts x ending balance of A/R, "% of A/R").…
DISCOUNTS Circle discounts you will offer to online customers: Quantity Cash Functional Seasonal Promotional Rebates Circle discounts you will offer to offline customers: Quantity Cash Functional Seasonal Promotional Rebates Account for any differences in discounts allowed to two customer groups:
Brokerage Satisfaction with Trade Price Satisfaction with Speed of Execution Overall Satisfaction with Electronic Trades Scottrade, Inc. 3.4 3.4 3.5 Charles Schwab 3.2 3.3 3.4 Fidelity Brokerage Services 3.1 3.4 3.9 TD Ameritrade 2.9 3.6 3.7 E*Trade Financial 2.9 3.2 2.9 (Not listed) 2.5 3.2 2.7 Vanguard Brokerage Services 2.6 3.8 2.8 USAA Brokerage Services 2.4 3.8 3.6 Thinkorswim 2.6 2.6 2.6 Wells Fargo Investments 2.3 2.7 2.3 Interactive Brokers 3.7 4.0 4.0 Zecco.com 2.5 2.5 2.5 Firstrade Securities 3.0 3.0 4.0 Banc of America Investment Services 4.0 1.0 2.0
ne O File Edit View History Bookmarks Bookmarks Profiles Tab Window Help Review Submission History: X Bb Microsoft Word - EXCEL GRO X getproctorio.com/secured #lockdown Proctoring Enabled: Chapter 6 Homework Assignm... i с Mc Graw Hill Item Description TV Remote Installation Total revenue Required: Please answer: how much revenue would be allocated to the TV, the remote, and the installation service by Best Buy? Note: Do not round intermediate calculations. 3 $ $ 4 Allocated Revenue New Tab 2 Best Buy Co. Inc. is an American multinational consumer electronics retailer headquartered in Richfield, Minnesota sells a big screen TV package consisting of a 60-inch plasma TV, a universal remote, and on-site installation by Best Buy staff. The installation includes programming the remote to have the TV interface with other parts of the customer's home entertainment system. Best Buy concludes that the TV, remote, and installation service are separate performance obligations. Best Buy sells the…
es Mookie the Beagle Concierge makes a payment on the VISA credit card on 01/31/2023 in the amount of $800. Required: To record the payment on the VISA credit card: 1. From the Navigation Bar, select Expenses > select Expenses tab 2. From the New transaction drop-down menu, select Pay down credit card 3. For Which credit card did you pay?, select 2100 VISA Credit Card 4. For How much did you pay?, enter 800.00 5. For Date of payment, enter 01/31/2023 6. For What did you use to make this payment?, select 1001 Checking 7. Select Save and close 8. What is the balance of the VISA Credit Card account after the credit card payment is recorded? Note: Answer this question in the table shown below. Round your answer to the nearest dollar amount. 8. Balance of the VISA credit card account