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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

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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.) Number of shares 50 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.) Number of shares 99 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.) Profit

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