Challenge The national order book for shares of ABC Corp. is…
Challenge The national order book for shares of ABC Corp. is: National Order Book Asks /Limit Sell Orders Price Shares Dealer Ask $127 6,000 $126 1,500 $125 1,200 $124 300 Best Ask $123 120 Bids /Limit Buy Orders Price Shares Best Bid $121 25 $120 63 $119 250 $118 313 Dealer Bid $117 1,250 Suppose a market order to sell 500 shares arrives from a fund manager. At what weighted-average price will this order be filled? (note: this spreads are unrealistically large. In reality, they would be $0.01) Enter your answer as a number of dollars, rounded to the nearest $0.01.