TRS is a large securities dealer.Last year,the company made 120,000 trades with an average commission of $120.Because of the general economic climate,TRS expects trade volume to decline by 20%.Fortunately,the average commission per trade is likely to increase by 10% because trades are expected to be large in the coming year.What are the estimated commission's revenues for TRS in the coming year?
A) $11,520,000.
B) $12,672,000.
C) $15,552,000.
D) $15,840,000.
Correct Answer:
Verified
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