Horizon Investments purchased a share of 7% preferred stock for $102.50 last year. The current market price of the stock is $99.80. What is the total return for last year?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter7: Common Stock: Characteristics, Valuation, And Issuance
Section: Chapter Questions
Problem 8P
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What is the total return for last year on these financial accounting question?

Horizon Investments purchased a share of 7% preferred
stock for $102.50 last year. The current market price of the
stock is $99.80.
What is the total return for last year?
Transcribed Image Text:Horizon Investments purchased a share of 7% preferred stock for $102.50 last year. The current market price of the stock is $99.80. What is the total return for last year?
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