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You find that the bid and ask prices for a stock are $80.25 and $80.30, respectively. If you purchase or sell the stock, you must

You find that the bid and ask prices for a stock are $80.25 and $80.30, respectively. If you purchase or sell the stock, you must pay a flat commission of $7. If you buy 100 shares of the stock and immediately sell them, what is your total implied and actual transaction cost in dollars?

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