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The market opens at 9:30 AM, at which point 15,000 shares of ABC stock trade at $35.66 a share.
Problem 1: What is the transaction cost according to the 'midpoint of bid ask prices at time of trade' benchmark?
Option 1: 36.25
Option 2: 26.25
Option 3: 56.25
Option 4: 46.25
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