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Yesterday, Dooley stock sold for $16.50 per share. Today, the overall market is down 2%. What is the most likely price of Dooley stock today?

Options:
A. Higher than $16.50
B. Lower than $16.50
C. The same as $16.50

Answer :

Final answer:

The most likely Dooley's stock price today is lower than $16.50. Option b is correct.

Explanation:

Yesterday's price of Dooley stock was $16.50 per share. The overall market is down 2%, which means it has decreased in value by 2% of its previous value. To find the decrease in Dooley stock price, we calculate 2% of $16.50, which is $0.33. Here is a step-by-step explanation:

Calculate the 2% decrease:

2% of $16.50 = 0.02 * $16.50 = $0.33

We subtract this decrease ($0.33) from yesterday's price ($16.50) to get today's price, which is $16.17;

$16.50 - $0.33 = $16.17

Since the market is down, it is likely that Dooley stock would also be lower today than it was yesterday, making the most likely price lower than $16.50. So, the most likely price of Dooley stock today is $16.17 per share.

Option b is correct.

Learn more about Stock Price here: https://brainly.com/question/34286428

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