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 $94 1,250 $93 313 $92 250 $91 63 Best Ask $90 25 Bids /Limit Buy Orders Price Shares Best Bid $88 120 $87 300 $86 1,200 $85 1,500 Dealer Bid $84 6,000 Suppose a market order to buy 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.