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A dealer buys 100 shares of XYZ common, which is an actively traded stock, at...

A dealer buys 100 shares of XYZ common, which is an actively traded stock, at 23.50. Three days later, when XYZ common is quoted at 19.50 - 19.75, he sells the 100 shares to a customer.

The basis for the dealer’s markup is:

A.

10 5/8

B.

19 7/8

C.

23 1/2

D.

5% above cost

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