Question 325321
total shares is 300
x = common
y = preferred


purchased 3 times as many common as preferred so:


x = 3*y


common have a par of $40.
preferred cost 3/4 more.


preferred must cost 1.75 * common which makes the price of the preferred share equal to 70.


40 + 30 = 70


preferred is 3/4 more per share than the price of the common.


3/4 * 40 = 30.


total purchase price would be calculated as follows:


x + y = 300
x = 3*y making this equation:


3*y + y = 300 which becomes:
4*y = 300


divide both sides of the equation by 4 to get:


y = 75


since x = 3*y, then x = 225.


x + y = 300 results in 225 + 75 = 300 which is correct.


total purchase price of all shares is 225 * 40 + 75 * 70 = 14250