allen bought 1,350 shares of stock for $12 per share. if he sold all his shares for $27,000, how much profit…

allen bought 1,350 shares of stock for $12 per share. if he sold all his shares for $27,000, how much profit on each share did he make? a. $6 b. $8 c. $10 d. $12 please select the best answer from the choices provided

allen bought 1,350 shares of stock for $12 per share. if he sold all his shares for $27,000, how much profit on each share did he make? a. $6 b. $8 c. $10 d. $12 please select the best answer from the choices provided

Answer

Explanation:

Step1: Calculate total cost

$1350\times12 = 16200$

Step2: Calculate total profit

$27000 - 16200=10800$

Step3: Calculate profit per - share

$\frac{10800}{1350}=8$

Answer:

B. $8$