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1 month ago

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A share of stock in the Lofty Cheese Company is quoted at 25 1/4. Suppose you hold 30 shares of that stock, which you bought at

20 1/4. If you sell your stock at 25 1/4, which one of the following statements would be true?
A: you'll suffer a loss of $15
B: you'll make a profit of $15
C: you'll make a profit of $150
D: you'll suffer a lose if $150

1 answer:

tester [12.3K]1 month ago

8 0

Because each share was originally purchased at 20 1/4, the gain per share when the price rises to 25 1/4 is (25 1/4 - 20 1/4) = $5.00. Selling 30 shares therefore yields a total profit of (30 x 5) = $150.00. Thus, the correct choice is C<span>.</span>

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