Question

Stock in Trochel Office Supplies trades at $72.40 per share and pays a yearly dividend of $6.92 per share. If David owns stock in Trochel Office Supplies worth $6,443.60, how much does he get paid in yearly dividends? a. $678.16 b. $931.16 c. $615.88 d. $560.52 Please select the best answer from the choices provided A B C D

Answer 1

Answer:

c. $615.88

Explanation:

David owns a total 6,443.6

Each share value is 72.40

We have to divide his amount over the cost of each share to know how many shares David has.

$ 6,443.60 total investment / $72.40 per share= 89 shares

Trochel Office Supplies pays 6.92 dollars per share

Therefore, total dividends paid to David:

89 shares x 6.92 dollars = $ 615.88 total dividends