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What is the stock's opening price given the information below about orders that arrived overnight? Please show your work. Buy orders: 200 shares at the
What is the stock's opening price given the information below about orders that arrived overnight? Please show your work. Buy orders: 200 shares at the market price; 400 shares at $15.90; 300 shares at $15.89; 400 shares at $15.88; 300 shares at $15.87; 250 shares at $15.86; Sell orders: 350 shares at the market price; 500 shares at $15.85; 700 shares at $15.86; no orders at $15.87; 150 shares at $15.88; 800 shares at $15.89; 100 shares at $15.90.
A. $15.87
B. $15.88
C. $15.85
D. $15.89
E. $15.86
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