Answer:
$14909.25
Explanation:
Given :
Recall : A round lot is any number of shares that can be evenly divided by 100 while an odd lot is any number of shares between 1 and 100.
Therefore, 300 shares will be classified as a round lot.
Commission paid on round lot = 3%
Price per share = $48.25
Share price for 300 : ($48.25 * 300) = $14,475
Commission fee = 3% * 14475 = $434.25
Total cost of stock purchase :
$(14475 + 434.25)
= $14909.25
