An affiliate holding restricted stock wishes to sell shares under rule 144. he has held the shares, fully paid, for 6 months, and the issuer has 2.4 million outstanding shares. form 144 is filed on monday, april 10, and the average weekly trading volume for the last four weeks is 24,500 shares per week. the maximum number of shares the customer can sell with this filing is:
a) 23,000.
b) 24,250.
c) 24,500.
d) 24,000.

The correct answer is d) 24,000

Explanation:

The question says:

The 144 rule mentions, that after 6 months of holding the fully paid restricted shares, the member can begin selling. They can sell the greater of 1% of the total shares outstanding.

According to the 144 rule, the affiliate can sell his shares. The affiliate has 2.4 million outstanding shares.

2,4 Million shares = 2´400.000 shares

2´400.000 shares x 1 % = 24,000 shares

The maximum number of shares the customer can sell with this filing is 24,000