Question

Sarah buys 500 shares of stock at $18 and sells the holding for a capital gain of $3,000. What was the share price at the time of the sale?

Answer 1

Answer:

$24

Explanation:

500 * 18 = $9000 worth of stock initially.

She sells with a $3000 gain, which means the value of the stock is $12000

12000/500 = $24