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Suppose that Company A has a bid of $ 3 7 and an ask of $ 3 7 . 1 2 , whereas Company B

Suppose that Company A has a bid of $37 and an ask of $37.12, whereas Company B has a bid of $3.5 and an ask of $3.59. Calculate the bid-ask spread as a percentage of the ask price for each firm.CompanyBidAskCompany A$37$37.12Company B$3.5$3.59(a)What is the bid-ask spread for Company A? Round your answer to two decimal places.The bid-ask spread for Company A, is %.(b)What is the bid-ask spread for Company B? Round your answer to two decimal places.The bid-ask spread for Company B, is %.

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