Answer:
Explanation:
The <em>purchase price</em> is what Janice invested for every share.
Since the stock was priced at $31.82 per share and she received a $1.11 dividend per share, her investment was:
- $31.82 - $1.11 = $30.71 per share ← answer
This price is the cost for Janice, over which she shall calculate their returns (gains or losses) on the future, when she sells the shares, for instance.
The total investment of Janice was the number of shares multipled by the purchase price:
- 40 shares × ($31.82 - $1.11)/ share
- 40 shares × ($30.71) / share = $1,228.40 (total investment)
