Technology George Fernandez purchased stock in the Elite Manufacturing Co., Inc., for $76 a share. Last year he received quarterly dividends of $1, $1, $1, and $0.80 on each share. Use spreadsheet software to answer the following questions.

a. What were his total dividends for the year as a percentage of the price he paid for each share?

b. Assume the stock price increases to $100, but the company pays the same dividend. Determine the new percentage return for the year.