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The ask price for stock XYZ is $57.54 on January 1,2017 . The bid-ask spread is $0.32. Bob buys 100 shares of XYZ on January

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The ask price for stock XYZ is $57.54 on January 1,2017 . The bid-ask spread is $0.32. Bob buys 100 shares of XYZ on January 1,2017 and sells them on July 1,2018 . His broker charges a $30 commission on all trades. The continuously compounded risk-free rate is 1%. Assuming that the bid-ask spread remains the same on July 1, 2018 as it was on January 1, 2017, compute the minimum ask price for the stock on July 1, 2018 that would result in Bob avoiding a negative profit. A. 58.50 B. 58.99 C. 59.10 D. 59.33 E. 59.44

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