Your discount brokerage firm charges $7.95 per stock trade.

How much money do you need to buy 200 shares of Pfizer, Inc. (PFE), which are trading at $31.40? (Round your answer to 2 decimal places.)

Required quantity

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2

His full-service brokerage firm charges $140 per stock trade.

How much money does he receive after selling 200 shares of Nokia Corporation (NOK), trading at $20.13?

Received amount

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3

You would like to buy shares of Sirius Satellite Radio (SIRI). The current bid and ask quotes are $3.96 and $3.93, respectively. You place a market buy order for 500 shares that is executed at these quoted prices.

How much money did it cost to buy these shares?

cost of shares

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4

You would like to sell 200 shares of Xenith Bankshares, Inc. (XBKS). The current bid and ask quotes are $4.66 and $4.62, respectively. You place a sell limit order at $4.65.

If the transaction is executed, how much money does he receive from the buyer?

Money received

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5 Problem 8-11 Value of a preference share (LG8-5)

A preferred stock of Duquesne Light Company (DQUPRA) pays $3.55 in annual dividends.

If the required return on preferred stock is 6.7 percent, what is the value of the stock? (Round your answer to 2 decimal places.)

stock value

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6

Ultra Petroleum (UPL) has earnings per share of $1.56 and a price-earnings ratio of 32.48.

What is the stock price? (Round your answer to 2 decimal places.)

Market price

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