P $13-2$ For each of these situations, indicate the amount to be placed on a statement of financial

condition at December $31,2010.$

a$.$ Raj Reel owns the following securities:

$1,000$ shares of Ree's

$2,000$ shares of Bell's

Ree's is traded on the New York Stock Exchange. The prices from the most recent trade day

follow:

Bell's is a local company whose stock is sold by brokers on a workout basis. $($The broker tries

to find a buyer.$)$ The most recent selling price was $$8.$

What is the estimated current value of these securities$?($Assume that the commission on Ree's

would be $$14$ and the commission on Bell's would be $$17.)$

b$.$ Charlie has a certificate of deposit with a $$10,000$ balance. Accrued interest is $$500.$ The penalty

for early withdrawal would be $$300.$

What is the estimated current value of the certificate of deposit?

c$.$ Jones has an option to buy $500$ shares of ABC Construction at a price of $$20$ per share. The

option expires in one year. ABC Construction shares are presently selling for $$25.$

What is the estimated current value of these options?