You purchase 65 shares of common stock at $32.50 per share. A few months later, you sell the shares for $39.95. No dividends were paid. Your stockbroker charges 3.1% 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 65 × $32.50 = $2,112.50, plus a 3.1% commission of $65.49, for a total cost of $2,177.99. The sale brings in 65 × $39.95 = $2,596.75, minus a 3.1% commission of $80.50, leaving $2,516.25. Subtracting the total cost from the net sale proceeds gives a gain of $338.26, so the correct choice is “A gain of $338.26.”

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