NO.PZ201909300100000106
问题如下：
6 Based on Exhibit 1, the execution cost for purchasing the 90,000 shares of BYYP is:
选项：
A. $60,000.
B. $82,500.
C. $127,500.
解释：
C is correct.
Execution cost is calculated as the difference between the cost of the real portfolio and the paper portfolio. It reflects the execution price(s) paid for the number of shares in the order that were actually filled or executed. The execution cost is calculated as:
Execution cost =
= [(10,000 shares × $40.75) + (30,000 shares × $41.25) + (20,000 shares × $41.50) + (30,000 shares × $41.75)] – (90,000 × $40.00)
= $3,727,500 – $3,600,000
= $127,500
