After studying the fundamental trends from COX Company's annual report, you have decided to purchase one round

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After studying the fundamental trends from COX Company's annual report, you have decided to purchase one round lot of the firm's stock on the open market. On Monday morning you call a stockbroker and ask for the price of COX stock. The broker indicates that the bid price is $45.20, the ask price is $45.50, and the commission is $38.00. Assuming you wanted to place a market order to purchase shares, what is your cost per share, including the commission, and how much would you pay in total? What percentage of the total cost would you pay in commission?

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