Answer: $2,520.

**Explanation:** The correct answer is **B** ($2,520). Here's the detailed breakdown: 1. **Total Purchase Cost:** - 2,000 shares × $12.00 = $24,000. 2. **Equity Investment:** - Total investment divided by the leverage ratio: $24,000 / 3 = $8,000. 3. **Amount Borrowed:** - Total purchase cost minus equity investment: $24,000 - $8,000 = $16,000. 4. **Interest on Loan:** - 3% of $16,000 = $480. 5. **Proceeds from Sale:** - 2,000 shares × $9.50 = $19,000. 6. **Remaining Equity:** - Proceeds from sale minus borrowed amount and interest: $19,000 - $16,000 - $480 = $2,520. **Why Not A or C?** - **A** ($460) incorrectly divides the total investment by 4 instead of 3, leading to an inflated equity investment and incorrect remaining equity. - **C** ($3,000) omits the interest on the loan, resulting in an overestimation of the remaining equity.

Author: LeetQuiz Editorial Team