Suppose your broker charges $0.01 commission per share per trade (i.e. per side, and not round-trip). The exchange charges $0.037 per share per trade for removing liquidity and credits $0.026 per share per trade for adding liquidity. You want to run an electronic market-making strategy in a high-frequency setup. You post a below- market limit order (i.e. to add liquidity) to purchase 1,000 shares of a stock at $17.47 per share and your order is subsequently filled. (You get the credit.) If the price immediately starts to fall, at what minimum price must you exit your position to break even on this round-trip trade by posting a limit order above the best bid (i.e. by adding liquidity)? $16.130 $16.566 $17.002 $17.438 $17.874