Three years ago, you purchased 220 shares of IBM stock for $92 a share. Today, you sold
Question:
Three years ago, you purchased 220 shares of IBM stock for $92 a share. Today, you sold your IBM stock for $140 a share. For this problem, ignore commissions that would be charged to buy and sell your IBM shares and dividends you might have received as a shareholder.
a. What is the amount of profit you earned on each share of IBM stock?
b. What is the total amount of profit for your IBM investment?
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a The profit for each share of IBM stock was 48 as i...View the full answer
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ISBN: 978-1259720680
12th edition
Authors: Jack R. Kapoor, Les R. Dlabay, Robert J. Hughes, Melissa Hart
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