Imagine that you have placed a limit order to buy 1000 shares of Sallisaw Tool at a price of $3.80, though the shares are currently selling for $4.10. Discuss the consequences, if any, of each of the following.
a. The share price drops to $3.90 per share two months before cancellation of the limit order
b. The share price drops to $3.80 per share.
c. The minimum share price achieved before cancellation of the limit order was $3.85. When the limit order was cancelled, the share was selling for $4.75.
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