Transaction costs c.

You would like to purchase one Class A share of Berkshire Hathaway through your Scottrade brokerage account. Scottrade charges a $7 commission for online trades. You log into your account, check the real-time quotes for Berkshire Hathaway (you see a bid price of $262,850 and an ask price of $263,770) and submit your order.

If, instead, Scottrade routes your buy order to the Nasdaq, where Berkshire Hathaway is not listed, what's the potential maximum your total transaction costs will be?