Question

You purchased 1,600 shares of Barrett Golf Corp. stock at a price of $36.70 per share. While you owned the stock,you received dividends totaling$.75 per share. Today, you sold your stock at a price of $40.83 per share. What was your total dollar return on the investment

Answer 1

Answer: $7808

Explanation:

From the question, 1600 shares of Barrett Golf Corp were purchased stock at a price of $36.70 per share. While owning the stock, dividend totaling $.75 per share was received. Today, the stock was sold at a price of $40.83 per share. The total dollar return on the investment will be:

Dollar return = Number of shares × (Sale price + Dividend - Purchase price)

= 1600 × (40.83 + 0.75 - 36.70)

= 1600 × (41.58 - 36.70)

= 1600 × 4.88

= $7808