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Isaac Placed an Order with His Broker to Purchase 300

question 32

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Isaac placed an order with his broker to purchase 300 shares of each of three IPOs that are being released this month.Each IPO has an offer price of $24 a share.He received allocations of 300 shares of A,25 shares of B,and 250 shares of C.On their respective first days of trading Stock A closed at $20 a share,Stock B closed at $29 a share,and Stock C closed at $25 a share.How much less did he earn on his combined first day of trading than he would have had he received his full allocation of shares for all three stocks?

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Definitions:

Lens

A curved piece of glass or other transparent materials used to refract light, focus images, and correct optical imperfections.

Transparent Outer Membrane

Refers typically to the cornea, the clear, dome-shaped surface that covers the front of the eye and contributes to the eye's focusing power.

Focus

Concentration or attention directed towards a specific object, task, or thought.

Depressed Spot

A concave area or indentation on a surface, which can be physical like on the skin or structural in other materials.

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