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On May 18th,you Purchased 900 Shares of LKM Stock

Question 57

Multiple Choice

On May 18th,you purchased 900 shares of LKM stock.On June 1st,you sold 100 shares of this stock for $32 a share.You sold an additional 200 shares on July 6th at a price of $34.50 a share.The company declared a per share dividend of $.33 on June 20th to holders of record as of Friday,July 8th.This dividend is payable on July 29th.How much dividend income will you receive on July 29th as a result of your ownership of LKM stock?


A) $0
B) $198
C) $240
D) $264
E) $297

Correct Answer:

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