On a given day a stock dealer maintains a bid price of $1,000.50 for a bond and an ask price of $1,0003.25. The dealer made 10 trades that totaled 500 bonds traded that day. What was the dealer's gross trading profit for this security?
a. $275
b. $500
c. $1,450
d. $1,375
Answer: d. $1,375
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