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Scilla [17]
3 years ago
11

Kim placed an order with her broker for 800 shares of each of three IPOs being offered this week. Each of the IPOs has an offer

price of $30. The number of shares allocated to Kim along with the closing prices on the first trading day are:Stock Shares Allocated Price A 700 $ 29.15 B 430 33.86 C 340 36.43 What is Kim's total profit on these three stocks at the end of the first day of trading? Multiple Choice a. $4,929.50 b. $3,251.00 c. $3,715.40 d. $1,591.20 e. $6,608.00
Business
1 answer:
Ainat [17]3 years ago
8 0

Answer:

B. $3,251

Explanation:

Stock shares × Allocated price = Shares closing price

A 700 ×$ 29.15 =$20,405

B 430 ×33.86=$14,560

C 340× 36.43 =$12,386

Total $47,351

Stock shares × IPO price= Shares IPO price

A 700 ×$30=$21,000

B 430×$30= $12,900

C 340×$30=$10,200

Total $44,100

Total Profits $47,351-$44,100

=$3,251

Therefore Kim's total profit on these three stocks at the end of the first day of trading will be $3,251

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Question 3 of 10
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A. citizens tend to have greater confidence in the economy.

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3 years ago
Gerome Houser is a pastry chef at McKay’s Eatery. His annual salary is $45,623. His benefits include $1,755 for two weeks of vac
alexgriva [62]
First, we add up all the benefits that Gerome Houser gets from his job. That is,
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5 0
3 years ago
Allen Lumber Company had earnings after taxes of $630,000 in the year 2009 with 370,000 shares outstanding on December 31, 2009.
Firdavs [7]

Answer:

$2.00

Explanation:

Since there was an increase of 30% from 2009, Allen Lumber Company's earnings after taxes for 2010 were:

E= 1.30*\$630,000\\E=\$819,000

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n=370,000+39,000\\n=409,000

Earnings per share for 2010 are determined by dividing total earnings by the number of shares:

E_S=\frac{\$819,000}{409,000}\\E_S=\$2.00

Earnings per share for the year 2010 were $2.00.

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