You would like to sell 120 shares of Xenith Bankshares, Inc. (XBKS). The current

Question

You would like to sell 120 shares of Xenith Bankshares, Inc. (XBKS). The current ask and bid quotes are $4.16 and $4.12, respectively. You place a limit sell order at $4.15. If the trade executes, how much money do you receive from the buyer? (Round your answer to 2 decimal places.) You would like to sell 120 shares of Xenith Bankshares, Inc. (XBKS). The current ask and bid quotes are $4.16 and $4.12, respectively. You place a limit sell order at $4.15. If the trade executes, how much money do you receive from the buyer? (Round your answer to 2 decimal places.) You would like to sell 120 shares of Xenith Bankshares, Inc. (XBKS). The current ask and bid quotes are $4.16 and $4.12, respectively. You place a limit sell order at $4.15. If the trade executes, how much money do you receive from the buyer? (Round your answer to 2 decimal places.)

Explanation / Answer

Since the limit order is set at $4.15., the minimum per share amount to be received will be $4.15.

accordingly upon sale of 120 shares , we will be receiving ($4.15 * 120 shares)

=>$498.00.

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