A brokerage firm charges ?$100100 commission for every transaction? (purchase or? sale) made. A person...
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Accounting
A brokerage firm charges
?$100100
commission for every transaction? (purchase or? sale) made. A person bought a block of stock containing over 400 shares for
?$10 comma 90010,900?,
including the commission. After one? year, he received a stock dividend of
2020
shares. He then sold all of his stock for
?$22
more per share than it had cost and made a profit of
?$12201220
?(after paying the? commission). How many shares did he? buy, and what was the original price of each?share?
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