A year ago,you purchased 300 shares of IXC Technologies,Inc. stock at a price of $9.03 per share. The stock pays an annual dividend of $.10 per share. Today,you sold all of your shares for $28.14 per share. What is your total dollar return on this investment?
A) $5,703
B) $5,733
C) $5,753
D) $5,763
E) $5,853

Question

Quizplus · Accepted Answer

First, we need to calculate the total cost of purchasing the 300 shares:

300 shares * $9.03 per share = $2,709

Next, we need to calculate the total amount of dividends received:

300 shares * $0.10 per share = $30

To calculate the total dollar return, we need to subtract the total cost from the total proceeds:

300 shares * $28.14 per share = $8,442

Total dollar return = $8,442 - $2,709 + $30 = $5,763

Therefore, the correct answer is (D) $5,763.

A Year Ago,you Purchased 300 Shares of IXC Technologies,Inc