Stock TTK is traded on the Oztralian Stock Exchange which is an order driven market. At midday on 25 Oct 2021, the outstanding limit orders for stock TTK are the following:

(a) Thomas works for the exchange and the exchange asks him to think about what the best way is to present the existing limit orders listed in the table above. Thomas asks you for suggestions. What would you suggest to Thomas? Present the outstanding orders in the way you suggest. What are the reasons behind your suggestions? (3 marks)

(b) The exchange reported that there is one entry in the outstanding limit orders presented in the table with error. Could you please find that error entry and explain your answer. (2 marks)

(c) State the value of the bid ask spread for stock TTK at midday on 25 Oct 2021 assuming the error entry in b) is deleted. (1 mark)

(d) If another stock with similar price has the smaller bid-ask spread, what does it indicate? Explain your answer. (1 mark)