(All Ans in 2 Decimal Places)

1. How much to pay to buy 150 shares?

2. How much you receive for selling 150 shares?

3. If you buy 150 shares, and immediately sell 150 shares. What is your round-trip transaction cost?

Repeat the previous problem supposing that the brokerage fee is quoted as 0.3% of the bid or ask price.

4. How much you pay to buy 150 shares?

5. How much you receive for selling 150 shares?

6. If you buy 150 shares, and immediately sell 150 shares. What is your round-trip transaction cost?

Above shows the bid and ask prices and their respective quantities of Microsoft's stock (MSFT), quoted by Nasdaq at some point in time. Assume there is a $0.015 total transaction fee (which includes commission, platform fee, and taxes) per share charged by the trading platform. Additionally, the trading platform has a minimum charge of $0.99 per transaction