Homework Answers
Cost of each share sold = $12 - $0.25 = $11.75
Selling price of each share = $18.75
Cost of shares sold = Number of shares sold X cost of each share
= 300 X $11.75
= $3,525
Cash received on sale = Number of shares sold X selling price
= 300 X $18.75
= $5,625
Gain on sale = Selling price - cost
=$5,625 - $3,525 = $2,100
Correct option is Option D.
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