14 years ago, I purchased 114 shares of a stock worth $15.25 per share. There was a 2:1 split, a 3:1 split, and a 4:1 split during that time period. Today the stock is worth $1.57 per share. If the dividend yield was on average 13% during the last 14 years, what was the total rate of return? Round your answer to the nearest whole number.
14 years ago, I purchased 114 shares of a stock worth $15.25 per share. There was a 2:1 split, a 3:1 split, and a 4:1 split during that time period. Today the stock is worth $1.57 per share. If the dividend yield was on average 13% during the last 14 years, what was the total rate of return? Round your answer to the nearest whole number.
Chapter7: Common Stock: Characteristics, Valuation, And Issuance
Section: Chapter Questions
Problem 5P
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Question
![14 years ago, I purchased 114 shares of a stock worth $15.25 per share. There was a 2:1 split, a 3:1
split, and a 4:1 split during that time period. Today the stock is worth $1.57 per share. If the dividend
yield was on average 13% during the last 14 years, what was the total rate of return? Round your
answer to the nearest whole number.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff60b0562-0601-4ca9-bd54-4d67934c4c05%2Fad526cfa-b663-4bda-ae27-f2006813081c%2Fjk4wn7j_processed.png&w=3840&q=75)
Transcribed Image Text:14 years ago, I purchased 114 shares of a stock worth $15.25 per share. There was a 2:1 split, a 3:1
split, and a 4:1 split during that time period. Today the stock is worth $1.57 per share. If the dividend
yield was on average 13% during the last 14 years, what was the total rate of return? Round your
answer to the nearest whole number.
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