Chapter 0.2, Problem 10E

To determine

To calculate:What was the total value of Mr. and Mrs. Delgado's stock before the sale.

Answer to Problem 10E

Total value of Mr. and Mrs. Delgado's stock before the sale $16200

Explanation of Solution

Given information: Mr. D sold ${\frac{1}{3}}^{rd}$ of his shares of $ 2,700.

Therefore, his stock was valued before the sale $=\$2700\times 3=\$8100$

Since Mr. D and Mrs. D each had the same amount of stock before the sale. Therefore, the total value of their combined shares before the sale was $=\$8100\times 2=\$16200$