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Can someone help with a long question? I don't think it is to hard.
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Ralph Warren purchased 27 shares of stock at 16 3/8 per share. He paid a $27.50 brokerage fee. He later sold all 27 shares at 17 5/8 and a $28.75 brokerage fee. (36) What did he receive from the sale of the stock after he paid the brokerage fee? (38) Did he have a capital gain or loss? (39) How much was the gain or loss? (40) What was the net change from 16 3/8 to 17 5/8?
I know the answers if you want me to post them. Not sure how they got them though.
total buy value of shares 16*27+3/8*27=442.125 brokerage =27.5 total cost =469.625 now while selling total receipt=475.875 net profit =6.25
Thank you. :D
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