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4. Tanya Elliot purchased 400 shares of Frontier Oil at $19.00
per share and paid a $29.95 commission.
a. What was the cost of the stock?
b. What was the total paid?

Respuesta :

a. The cost of the stock is $19

b.  Tanya Elliot paid total amount of $ 7629.95.

What is cost of stock?

The cost of preferred stock to a company is effectively the price it pays in return for the income it gets from issuing and selling the stock.

a. It is given that , each share= $19.00

Total number of shares = 400

Price for 400 shares be,

= 400 x $19.00

= $7600.00

Cost of the stock= [tex]\frac{ 7600}{400}[/tex]

                            = $19

b. Total paid by Tanya = $7600.00 +$29.95

                                      = $7629.95

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