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  3. a brokerage firm charges ?$100100 commission for e

A brokerage firm charges ?$100100 commission for every transaction? (purchase or? sale) made. A person...

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Question

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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