Alexander Railroads has a dividend reinvestment program for shareholders. From2013 to 2017, the company had the following share prices and dividends.YearShare price after dividend dividend per share2013$48$2.502014$50.75$2.752015$55.15$3.002016$60.50$3.502017$61.25$4.00If you started with 100 shares of stock at $48 per share and participated fully inthe DRIP, how many shares of stock would you have at the end of 2017? Round upto the nearest three decimal places

An automated reinvestment plan (ARP) is a strategy for investing big profits or stocks…

Answered: If you started with 100 shares of stock…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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If you started with 100 shares of stock at $48 per share and participated fully in the DRIP, how many shares of stock would you have at the end of 2017? Round up to the nearest three decimal places