Answer:
The shares were bought at a price of $26.981
Explanation:
The price of the share be represented as "y "
Capital gain= ( y - 77.6)
Dividend = 2.92
Total return in dollar = ( y - 77.6)+ 2.92
total return in %= 15.84%
Return (%) = (( y -77.6)+ 2.92)/77.66= 15.84%
(( y -77.6)+ 2.92)/77.66= 0.1584
<em>cross multiplying</em>
(( y -77.6)+ 2.92)=77.66 × 0.1584
y -14.68
= 12.301344
<em>Collecting like terms</em>
y =26.98
The shares were bought at a price of $26.981
