Hormel is giving its customers a cash discount.
<h3>What is cash discount?</h3>
Cash discount is the discount a seller give to a buyer by reducing the amount the buyer was supposed to pay because the buyer make his payment earlier.
Based on the given scenario Hormel offers is offering its food distributors a discount of 15 percent if the distributor paid within the stipulated time or period of 10 days.
Inconclusion Hormel is giving its customers a cash discount.
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if this is wrong I apologize
Answer:
The answer is $47.6
Explanation:
Solution
Given that
You bought = 140 shares of Mitchum Trading for $50.07 per share
The quarterly dividend = $.17
The current price = $51.03
So we find the total dividend income you received which is computed below:
The total dividend received = (0.17 * 2) * 140
=(0.34) * 140
= $47.6
Therefore the total dividend of income that you received is $47.6
