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Bob Orleans invested $ 3 , 0 0 0 and borrowed $ 3 , 0 0 0 to purchase shares in Verizon Communications. At the

Bob Orleans invested $3,000 and borrowed $3,000 to purchase shares in Verizon Communications. At the time of his investment, Verizon was selling for $60 a share.
a. If Bob paid a commission of $20, how many shares could he buy if he used only his own money and did not use margin? (Round your answer to nearest whole number.)
b. If Bob paid a commission of $40, how many shares could he buy if he used his $3,000 and borrowed $3,000 on margin to buy Verizon stock? (Round your answer to nearest whole number.)
c. Assume Bob did use margin to buy his Verizon stock. Also, assume he paid another $40 to sell his stock and sold the stock for $64 a share. How much profit did he make on his Verizon stock investment? (Round intermediate calculations to nearest whole number. Round your answer to nearest whole dollar.)

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