Transaction costs You would like to purchase one Class A share of Berkshire Hathaway through your Scottrade brokerage account. Scottrade charges a $7 commission for online trades. You log into your account, check the real-time quotes for Berkshire Hathaway (you see a bid price of $262,850 and an ask price of $263,770) and submit your order.

c. If, instead, Scottrade routes your buy order to the Nasdaq, where Berkshire Hathaway is not listed, what's the potential maximum your total transaction costs will be?