Make-up Assignment 4227/7224 This assignment can be used to replace a missing grade, or to replace the lowest prode you have received on one of the regular assignments (1 through 4). The maximum number of points for this assignment $ 5. Problem: You have just been hired by DVH Group, a firm specializing in analysing costs of transactions. Your first project is to evaluate the trading costs for OPERA, a pension fund with $5 billion under management. OPERA fund has a US large cap value mandate, and the fund prides itself in very low turnover. When the Portfolio Manager (PM] releases orders to executing brokers, they are day orders. The OPERA fund currently uses two executing brokers, Better and Best. Summary information for this quarter's trades is provided below. Oearlystate any additional assumptions that you wish to make to answer a and b. below. Better: Stock B Shares Price at Price Closing Closing Com Trade PM price on price on mission price broker day of day 10 release trade share on day 1 completion ABC 10 000 527 05 522.30 522 25 522.25 522.40 XYZ 100.000 $54.09 534.03 $53 90 $52.90 50.03 553.80 Bust. Stock B Shares Price at Price Closing Cleaing Com. Trade price on price on mission price decision broker day of day 10 on day 1 trade completion ABC 10.000 $22.05 527 40 $43.83 $72.25 522.35 100 000 $54.09 $54.00 $53.90 $52.90 $53 80 a. First define the commission costs, market impact cost, and delay cost. Commission coats. Market impact costs Delay costs=