PPlease include detailed working out

Answer the following question based on the following quote revisions of a dealer. Transaction time 1:02pm 1:10pm Dealer's quote Ask = 10.04 Bid = 10.01 Buyer 1 arrived and traded at $10.04 Dealer's quote Ask = 10.05 Bid = 10.01 Seller 1 arrived and traded at $10.01 Dealer's quote Ask = 10.04 Bid = 10.00 Buyer 2 arrived and traded at $10.04 1:16pm What is the dealer's average transaction cost component if the adverse selection component is 65% of the total spread, given that the average quoted spread is $0.15 and the effective spread is $0.12? $0.03 a. $0.042 O b. $0.0525 O c. $0.0975 Old. None of the above. O e