Assume that you purchase 100 shares of Jiffy, Inc. common stock at the bid-ask prices of $32.00 - $32.50. When you sell the bid-ask prices are $32.50 - $33.00. If you pay a commission rate of 0.5%, what is your profit or loss?
A)
$0
B)
$16.25 loss
C)
$32.50 gain
D)
$32.50 loss
Answer:
D
Business
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