Imagine that you have placed a limit order to buy 100 shares of Sallisaw Tool at a price of $38,…

Imagine that you have placed a limit order to buy 100 shares of Sallisaw Tool at a price of $38, although the stock is currently selling for $41. Discuss the consequences, if any, of each of the following situations. a. The stock price drops to $39 per share 2 months before cancellation of the limit order. b. The stock price drops to $38 per share. c. The minimum stock price achieved before cancellation of the limit order was $38.50. When the limit order was canceled, the stock was selling for $47.50 per share.

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