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13 March, 18:36

Tabitha Robertson bought 80 shares of White Air Lines stock at $13.20 per share. She held the stock for one year and sold it at $45.68. Each transaction has a commission of $27 plus $0.03 per share. What is the profit or loss for the sale?

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  1. 13 March, 18:45
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    Answer: $2569.00

    Explanation:

    Purchase price per share = $13.20

    Number of shares = 80

    Commission on transaction = $0.03 per share plus $27

    Sales prices per share = $45.68

    Total Purchase price = (number of shares * purchase price per share)

    Total Purchase price = (80 * $13.20) = $1056.00

    Total Sales price = (number of shares * sales price per share)

    Total Sales price = (80 * $45.68) = $3654.40

    Commission = $27 + (80 * 0.03) = $29.40

    Profit or loss = Total Sales price - Total purchase price - commission

    Profit or loss = $3654.40 - $1056.00 - $29.40

    Profit = $2569.00
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