Exhibit 38-2 Refer to Exhibit 38-2. If the closing price of Prancer's stock on the previous day was $55.50, what value goes in blank (C)?

Question

Exhibit 38-2  Refer to Exhibit 38-2.  If the closing price of Prancer's stock on the previous day was $55.50, what value goes in blank (C)?

Quizplus · Accepted Answer

To find the value that goes in blank (C), we need to calculate the percentage change in the closing price of Prancer's stock from the previous day to the current day. Using the formula: % Change = [(Current Price - Previous Price)/ Previous Price] x 100%, we get % Change = [(56 - 55.50)/55.50] x 100% = 0.90%. Rounding to the nearest 0.25%, we get +0.50%. Therefore, the answer is C.