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Consider the following limit order book for FinTrade stock. The last trade in the stock occurred at a price of $65. Limit Buy Orders Price
Consider the following limit order book for FinTrade stock. The last trade in the stock occurred at a price of $65. Limit Buy Orders Price Shares $ 64.75 700 64.70 1,000 64.65 700 64.60 200 63.65 800 Limit Sell Orders Price Shares $ 64.80 125 64.85 125 64.90 350 64.95 125 Required: a. If a market buy order for 125 shares comes in, at what price will it be filled? (Round your answer to 2 decimal places.) Best price b. At what price would the following market buy order be filled? (Round your answer to 2 decimal places.) Next best price c. If you were a security dealer, would you want to increase or decrease your inventory of this stock? Increase Decrease
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