Nancy Billows bought 150 shares of NBC Universal stock at $22.885 per share. Her broker charged her $22.05 for the brokerage commission. What is the average cost per share (include brokerage fee) to the nearest cent? A) $23.03 B) $20.03 C) $32.03 D) $33.02 E) None of these

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Quizplus · Accepted Answer

To find the average cost per share, we need to add the cost of the shares and the brokerage commission, then divide by the total number of shares:
Total cost = (150 x $22.885) + $22.05 = $3,472.28 + $22.05 = $3,494.33
Average cost per share = $3,494.33 / 150 = $23.03 (rounded to the nearest cent)

Nancy Billows Bought 150 Shares of NBC Universal Stock