A CEO's contract provided a bonus of $10,000 for each one percent increase in the average stock price in December relative to the average stock price in the previous December. Suppose the average price went from $12 per share in December 2013 to $27 per share in December 2014. The increase in the stock is INSERT ANSWER percent and so the CEO is due a bonus of $ INSERT ANSWER million.

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Calculating the CEOs Bonus Step 1 Calculate the percentage increase in stock price Increase in pri... View the full answer