Final answer:
A purchase of WRJ stock at market price can be made at $21.15 per share, and the spread between the bid and offer prices is $0.15. A sale of the stock at the market price would occur at $21 per share.
Step-by-step explanation:
The statement about WRJ stock, which is quoted at 21 bid and 21.15 offer, presents a scenario related to the stock market. The bid price is the highest price someone is willing to pay for the stock, and the offer (or ask) price is the lowest price at which someone is willing to sell the stock. If you are buying at the market, you will purchase the stock at the offer price because that is where sellers are currently willing to transact. Therefore, a purchase can be made at $21.15 per share if buying at the market price. The spread, which is the difference between the bid and ask prices, is indeed $0.15. When selling at the market price, you will receive the current bid price, so a sale can be made at $21 per share if selling at the market.