CommissionsDollarAmount Commission Rate$2,500 or less $29 + 0.016 of dollar amount$2,501-$10,000 $49 + 0.008 of dollar amountover $10,000 $99 + 0.003 of dollar amountMaximum charge: $40 per concract on the first two contracts, plus $4 per contaet thereafter Minimum charge: $37.25 plus $1.75 per contract
1. The Gervais Fund has sold 200,000 shares to investors. Currently, the fund has accrued
investment Management Fee obligations of $75.000. The funds portfolio is shown below.
Calculate the fund’s Net Asset Value (NAV).
STOCK
SHARES
PRICE PER SHARE
A
50,000
$12
B
45,000
10
C
35,000
30
D
30,000
150
E
40,000
20
2. using the commission schedule, determine the commissions on the following option
transaction:
A. Fifteen contracts at a price of 6 7/8.
3. Five warrants are required to purchase one share of common stock for $70. The warrants are
selling for $5 each and the common stock is currently selling for $85
A. What is the value of each warrant?
B. What is the warrant premium in percentage?
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