Buying stock with a market order, Accounting Basics

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Buying stock with a market order

Problem:

You would like to buy shares of Ralph Lauren (RL). The current bid and ask quotes are $85.13 and $85.20, respectively. You place a market buy-order for 500 shares that executes at these quoted prices. How much money did it cost to buy these shares?

$42,600.00
$35.00
$42,565.00
$85,165.00

Note: Please show the work not just the answer.

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Accounting Basics: Buying stock with a market order

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Accounting Basics: Buying stock with a market order

Reference No:- TGS0890860

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Recent Questions Asked Accounting Basics

Q : Debt management ratios

Q : Price of three bonds in dollars

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Q : Buying stock with a market order

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Buying stock with a market order

Reference No:- TGS0890860

Recent Questions Asked Accounting Basics

Q : Debt management ratios

Q : Price of three bonds in dollars

Q : Asset management ratios

Q : How eukaryotic genes are controlled from chromatin

Q : Buying stock with a market order

Q : Tax liability-average tax rate-marginal tax rate

Q : Determining the liquidity ratios

Q : How does ecoli control the expression of its genes

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