Norsk was unsuccessful in filling the limit order on the first day and after consultation with
the client they agree to revise the price. Two days later Norsk successfully purchases 800 shares
of JAK at £26.25 with commission costs of £135.00. Moore decides to cancel the order for the
remaining 200 shares when the shares close that day at £26.75.
3. The implementation shortfall, in basis points, on the purchase of the JAK shares is closest to:
A. 360.
B. 386.
C. 332.
