Question

Ralph Warren purchased 27 shares of stock at 16 3/8 per share. He paid a $27.50 brokerage fee. He later sold all 27 shares at 17 5/8 and paid a $28.75 brokerage fee. (36) What was his total cost for the stock including his brokerage fee? (37) What did he receive from the sale of the stock after he paid the brokerage fee? (38) Did he have a capital gain or loss? (39) How much was the gain or loss? (40) What was the net change from 16 3/8 to 17 5/8?

Answer 1

Ralph Warren purchased 27 shares of stock at 16 3/8 per share. He paid a $27.50 brokerage fee. He later sold all 27 shares at 17 5/8 and paid a $28.75 brokerage fee. (36) What was his total cost for the stock including his brokerage fee? (37) What did he receive from the sale of the stock after he paid the brokerage fee? (38) Did he have a capital gain or loss? (39) How much was the gain or loss? (40) What was the net change from 16 3/8 to 17 5/8?

Explanation: