Jeffrey Marcus Purchased 800 Shares of General Tectonics Common Stock

question 74

Short Answer

Jeffrey Marcus purchased 800 shares of General Tectonics common stock at $16.40 per share. A few months later, Jeffrey sold the shares at $19.80. His stockbroker charges 3% commission. What was his gain or loss on this investment? (Round your answer to the nearest cent if necessary)

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Definitions:

Shiver

An involuntary body response involving rapid, rhythmic muscle contractions to generate heat when feeling cold.

Dry Heat

A method of sterilization or therapy that uses hot air or an open flame, without the presence of moisture.

Penetrates Tissue

Refers to a substance or device that enters or passes through bodily tissue.

Aquathermia Pad

A therapeutic device that uses water and temperature regulation to provide heat or cold therapy to specific parts of the body.