Question
Given the current market information: Limit Buy Orders Price Shares $92.05 100 92.04 300 92.03 450 92.02 900 92.01 1,600 Limit Sell Orders Price Shares
Given the current market information:
Limit Buy Orders
Price Shares
$92.05 100
92.04 300
92.03 450
92.02 900
92.01 1,600
Limit Sell Orders
Price Shares
$92.17 800
92.16 500
92.15 300
92.14 600
92.13 300
92.12 400
92.11 200
a. If you place a market order to buy 1,000 shares, in what sequence will you pay for the shares?
b. What is the total cost of the purchase?
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International Financial Management
Authors: Jeff Madura, Roland Fox
5th Edition
1473770505, 978-1473770508
