Need help with this accounting question You purchased 460 shares of stock at a priceof $56.97 per share. Over the last year, youhave received total dividend income of$530. If the stock price today is $70.33 andyou plan to sell it, what is the capital gainsyield?

Step 1: Define DividendDividend can be identified as the share of profit of investor for the part of…

Answered: You purchased 460 shares of stock at a…

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter18: Initial Public Offerings, Investment Banking, And Capital Formation

Section: Chapter Questions

Problem 9MC

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You purchased 460 shares of stock at a price of $56.97 per share. Over the last year, you have received total dividend income of $530. If the stock price today is $70.33 and you plan to sell it, what is the capital gains yield?