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The following represents the best four bid and ask prices for a given stock Price ($) Shares Price ($) Shares Bids 119.95 100 Asks 119.99

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The following represents the best four bid and ask prices for a given stock Price ($) Shares Price ($) Shares Bids 119.95 100 Asks 119.99 50 119.88 200 120.00 5.000 119.85 1,000 120.07 150 119.75 500 120.10 100 A) What is the bid-ask spread at this time? B) How much depth is at the bid? C) I Andy submits a market order to buy 5,000 shares, what will happen? Assume the book is exactly as stated above until Andy's order is received. Include all transactions and all changes to the limit order book (state all applicable prices and quantities), including the new bid-ask spread D) If April submits a limit order to sell 300 shares with a limit price of 119.91, what will happen? Assume the book is exactly as stated above (Le before Andy's order from part C above) until April's order is received. Include all transactions and all changes to the limit order book (state all applicable prices and quantities), including the new bid-ask spread

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