Can you help me solve this general accounting problem using the correct accounting process? Leo purchased a stock for $50.25 per share and sold itone year later for $52.76 per share. He also received adividend of $1.10 per share during the year.What was his capital gains yield (CGY)?a) 4.99%b) 5.00%c) 3.85%d) 4.99%e) 5.00%

To calculate the Capital Gains Yield (CGY), use this formula: CGY = (Selling Price - Purchase Price)…

Answered: Leo purchased a stock for $50.25 per…

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter22: S Corporations

Section: Chapter Questions

Problem 23CE

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Leo purchased a stock for $50.25 per share and sold it one year later for $52.76 per share. He also received a dividend of $1.10 per share during the year. What was his capital gains yield (CGY)? a) 4.99% b) 5.00% c) 3.85% d) 4.99% e) 5.00%