Bob Orleans invested $5,000 and borrowed $5,000 to purchase shares in Verizon Communications. At the time of his investment, Verizon was selling for $14 a share.

a.If Bob paid a commission of $30, how many shares could he buy if he usedonlyhis own money and did not use margin?

b.If Bob paid a commission of $60, how many shares could he buy if he used his $5,000 and borrowed $5,000 on margin to buy Verizon stock?

c.Assume Bob did use margin and paid a commission of$60 to buy his Verizon stock. Also, assume he paid another $60 to sell his stock and sold the stock for $22 a share. How much profit did he make on his Verizon stock investment?(Use the rounded number of shares computed in part b. Round your answer to 2 decimal places.)