Ivy purchased one share of stock. One year later, the stock paid a dividend of 3. The dividend yield on Ivy's investment was 3.8% and her total annual return was 8.7%. Calculate the price of the stock one year after Ivy's purchase.

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter2: The Domestic And International Financial Marketplace
Section: Chapter Questions
Problem 2P
Question

Please provide correct answer financial accounting

Ivy purchased one share of stock. One year later, the
stock paid a dividend of 3. The dividend yield on Ivy's
investment was 3.8% and her total annual return was
8.7%.
Calculate the price of the stock one year after Ivy's
purchase.
Transcribed Image Text:Ivy purchased one share of stock. One year later, the stock paid a dividend of 3. The dividend yield on Ivy's investment was 3.8% and her total annual return was 8.7%. Calculate the price of the stock one year after Ivy's purchase.
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