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

Question

Evans

Business

31 March, 11:32

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

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Answers (1)

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Jaelyn Williams · 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