Solved

Solve the Problem A)$443765
B)$4534

Question 213

Multiple Choice

Solve the problem.
-The following information on Company X appears in a stock table.  Solve the problem. -The following information on Company X appears in a stock table.   Find the amount received by the seller of 140 shares of Company X at the day's closing price. Deduct sales expenses which consist of the broker's commission and SEC fee. Assume that the Transaction is broker-assisted and that the discount broker's commissions are as follows:  \begin{array} { l | l }  \text { Principal Amount } & \text { Commission } \\ \hline \text { Up to } \$ 2499.99 & \$ 35 + 1.7 \% \text { of principal } \\ \$ 2500.00 - \$ 6249.99 & \$ 65 + 0.66 \% \text { of principal } \\ \$ 6250.00 - \$ 19,999.99 & \$ 76 + 0.34 \% \text { of principal } \end{array}  A) $4437.65 B) $4534.53 C) $4454.83 D) $4454.97 Find the amount received by the seller of 140 shares of Company X at the day's closing price. Deduct sales expenses which consist of the broker's commission and SEC fee. Assume that the
Transaction is broker-assisted and that the discount broker's commissions are as follows:  Principal Amount  Commission  Up to $2499.99$35+1.7% of principal $2500.00$6249.99$65+0.66% of principal $6250.00$19,999.99$76+0.34% of principal \begin{array} { l | l } \text { Principal Amount } & \text { Commission } \\\hline \text { Up to } \$ 2499.99 & \$ 35 + 1.7 \% \text { of principal } \\\$ 2500.00 - \$ 6249.99 & \$ 65 + 0.66 \% \text { of principal } \\\$ 6250.00 - \$ 19,999.99 & \$ 76 + 0.34 \% \text { of principal }\end{array}


A) $4437.65
B) $4534.53
C) $4454.83
D) $4454.97

Correct Answer:

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