Question: Problem 5-3 The following order book exists for a particular stock. The last trade on the stock was at $74.15. Buy Orders Sell Orders Shares

Problem 5-3

The following order book exists for a particular stock. The last trade on the stock was at $74.15.

Buy Orders Sell Orders
Shares Price Shares Price
250 $74.14 250 $ 74.17
500 74.13 600 74.18
900 74.12 1,000 74.20
75 74.10 900 74.21
150 74.22

a.

If you place a market buy order for 200 shares, at what price will it be filled? (Round your answer to 2 decimal places. Omit the "$" sign in your response.)

Share price $

b.

If you place a market sell order for 200 shares, at what price will it be filled? (Round your answer to 2 decimal places. Omit the "$" sign in your response.)

Share price $

c. Suppose you place a market order to buy 600 shares. At what price will it be filled? Choose the appropriate answer.
600 shares at $74.15
600 shares at $74.22
250 shares at $74.22 and 350 shares at $74.21
250 shares at $74.17 and 350 shares at $74.18

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