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You find that the bid and ask prices for a stock are $12.65 and $13.40, respectively. If you purchase or sell the stock, you must
You find that the bid and ask prices for a stock are $12.65 and $13.40, respectively. If you purchase or sell the stock, you must pay a flat commission of $30. If you buy 300 shares of the stock and immediately sell them, what is your total implied and actual transaction cost in dollars?
A) 60
B) 255
C) 285
D) 30
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