Anwar is placing a market order to purchase 100 shares of AJLwhen the bid/ask is...

A market order executes immediately at the best availableask pricefor a purchase transaction. In this case, the bid/ask initially was $10.25/$10.75. However, before execution, the ask price updated to $10.70, meaning Anwar will pay $10.70 per share.

B. $10.75: This was the previous ask price but is no longer valid after the update.

C. $10.29: This value is not relevant to the current bid/ask spread.

D. $10.20: This represents the updated bid price, which applies to sell orders, not buy orders.