You purchase 20 shares of common stock at $15.20 per share. A few months later, you sell the shares for $10.12. No dividends were paid. Your stockbroker charges 2.5% commission on transactions of less than 100 shares. Determine the gain (or loss) of the stock transaction. Round your answer to the nearest cent.

The purchase costs 20 × $15.20 = $304.00, plus a 2.5% commission of $7.60, for a total cost of $311.60. The sale brings in 20 × $10.12 = $202.40, minus a 2.5% commission of $5.06, leaving $197.34. The difference is $197.34 − $311.60 = −$114.26, so the correct choice is a loss of $114.26.

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