Answer the following 2 questions using the book chart of Microsoft (MSFT)s bid and ask price below.

MSFT
BID		ASK
SHARES	PRICE	SHARES	PRICE
500	168.50	200	170.50
200	168.00	300	170.80
350	167.50	450	171.30
600	167.35	200	172.00
150	166.90	1,000	172.50

1. You are planning to buy 1,000 shares of the MSFT stock at the market price. What will be your average purchasing price? What is the bid-ask spread afterwards? What if you place a limit order at $170.20?
2. AAPL corp. has an ROE of 30%. It's forecasted next period earning is $10/share and dividend is $4/share. Assume the cost of capital is 15%. What's the intrinsic value for AAPL?