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Abby purchased 100 shares of her father's favorite stock for $26 per share exactly 1 year...

Question

Abby purchased 100 shares of her father's favorite stock for $26 per share exactly 1 year...

Abby purchased 100 shares of her fathers favorite stock for $26 per share exactly 1 year ago, commission free. She sold it t

Abby purchased 100 shares of her father's favorite stock for $26 per share exactly 1 year ago, commission free. She sold it today for a total amount of $3200. She plans to invest the entire amount in a different corporation's stock today, but she must now pay a $45 commission fee. If she plans to sell this new stock exactly 1 year from now and realize the same return as she has just made, what must be the total amount she receives next year? Include the commission fee as a part of the purchase price, but neglect any tax effects. The total amount that she receives next year is $.

Answers


Percentage return on earlier shares = Profit/Purchase Price (Selling Price - Purchase Price)/Purchase Price = {$3,200 (S26 x


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