Kwikset Enterprises sold 300 shares of stock at $12.34 per share. The underwriting commission was 5.8%. To the nearest cent, how much did Kwikset Enterprises make on its sale of stock, after subtracting the underwriting commission?
Kwikset has 300 shares in the stock. He sold it for 12.34 dollars per share: So: => 300 * 12.43 dollars = 3702 dollars is the total money that she get after selling the stocks. Now, it will be deducted by 5.8% commission. => 3702 * .058 = 214.716 => 3702 - 214.716 = 3487.284 dollars or -3487.28 dollars.
