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12.) Nico bought 100 shares of a company's stock for $22.00 per share on January 1, 2019. He received a dividend of $2.00 per share
12.) Nico bought 100 shares of a company's stock for $22.00 per share on January 1, 2019. He received a dividend of $2.00 per share at the end of 2019 and $3.00 per share at the end of 2020. At the end of 2021, Nico collected a dividend of $4.00 per share and sold his stock for $18.00 per share. What was Nico's total return over the three-year period? What was Nico's compound annual rate of return? (Hint: use trialand-error).
a. 20.1%, 6%
b. 21.5%, 6.5%
c. 22.7%, 7.8%
d. 23.4%, 8.2%
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