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A brokerage firm conducts the following trades in a stock on trade date T: Buys 500 shares at $10 Buys 1,000 shares at $11 Sells

A brokerage firm conducts the following trades in a stock on trade date T: Buys 500 shares at $10 Buys 1,000 shares at $11 Sells 3,000 shares at $10.50 Sells 2,000 shares at $10.25 What does the brokerage firm do on T+1? a. Receive a single delivery of 3,500 shares and deliver $36,000 at DTC b. Make two deliveries and receive two deliveries of stock at DTC in exchange for cash c. Neither make a delivery nor receive shares at DTC d. Make a single delivery of 3,500 shares and receive $36,000 at DTC

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