Use the following stock quotes to answer this question:
$\text { 52-WEEK }$
$\begin{array}{lccccc}
\text{ Company} & \text{ Volume} & \text{ Close} & \text{ Chg }& \text{ High }& \text{ Low } \
\text{ Aldridge, Inc.} & 32,653,080 & 34.50 & -.20 & 41.60 & 33.90 \
\text{ Baker Co.} & 11,508,900 & 78.10 & -2.30 & 82.30 & 74.60 \
\text{ Chelsea, Inc. }& 51.873,450 & 48.20 & 4.10 & 48.60 & 29.40
\end{array}$

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A pension fund purchased 25 round lots of Chelsea, Inc., stock at the closing price of the day yesterday. What was the cost of that purchase?
A)$4,410
B)$8,040
C)$88,200
D)$110,250
E)$156,800

Question

Use the following stock quotes to answer this question:
$\text { 52-WEEK }$
$\begin{array}{lccccc} 
 \text{ Company} & \text{  Volume} &  \text{ Close} &  \text{ Chg }&  \text{ High }& \text{ Low } \
 \text{ Aldridge, Inc.} &  32,653,080 & 34.50 & -.20 & 41.60 & 33.90 \
 \text{ Baker Co.} & 11,508,900 & 78.10 & -2.30 & 82.30 & 74.60 \
 \text{ Chelsea, Inc. }& 51.873,450 & 48.20 & 4.10 & 48.60 & 29.40
\end{array}$

-
A pension fund purchased 25 round lots of Chelsea, Inc., stock at the closing price of the day yesterday. What was the cost of that purchase?
A)$4,410
B)$8,040
C)$88,200
D)$110,250
E)$156,800

Quizplus · Accepted Answer

The cost of the purchase is the number of shares purchased multiplied by the closing price per share. A round lot is 100 shares, so 25 round lots is 2500 shares. The closing price of Chelsea, Inc., stock yesterday was $48.20. Therefore, the cost of the purchase is 2500 * $48.20 = $120,500.

Use the Following Stock Quotes to Answer This Question 52-WEEK \text { 52-WEEK } 52-WEEK

Use the Following Stock Quotes to Answer This Question $\text { 52-WEEK }$