Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You decided to buy 1000 shares of ESTA Corp. Currently it is trading at $87 per share. You think you can get a better price

You decided to buy 1000 shares of ESTA Corp. Currently it is trading at $87 per share. You think you can get a better price and place a limit order to buy shares at $85 per share. During the next month the stock price goes up to $93. What is your profit?

  • A. -$6,000
  • B. $0
  • C. $6,000
  • D. $8,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles Of Project Finance

Authors: E. R. Yescombe

2nd Edition

0123910587, 9780123910585

More Books

Students also viewed these Finance questions

Question

Describe six general characteristics of William Jamess philosophy.

Answered: 1 week ago

Question

What is its position?

Answered: 1 week ago

Question

What are the organizations relationship goals on this issue?

Answered: 1 week ago