#1. John Smith purchased 100 shares of XYZ stock at $40 a share. One year later, he sold the stock for $50 a share. He paid a broker a $32 commission when they purchased the stock and a $40 commission when they sold the stock. During the 12-month period he owned the stock, XYZ paid dividends that totaled $1. Calculate the Smiths total return for this investment.

a. 30.3%

b. 22.7%

c. 32.7%

d. 25.5%