3. Sarah and James Hernandez purchased 140 shares of Macy's stock at $31 a share. One year later, they sold the stock for $35 a share. They paid a broker $8 commission when they purchased the stock and a $12 commission when they sold the stock. During the twelve month period they owned the stock, Macy's paid dividends that totaled $1.51 per share. Calculate the Hernandezs total return for this investment.

4. Wanda Sotheby purchased 120 shares of Home Depot stock at $148 a share. One year later, she sold the stock for $140 a share. She paid her broker a $34 commission when she purchased the stock and a $39 commission when she sold it. During the 12 months she owned the stock, she received $427 in dividends. Calculate Wandas total return on this investment. (LO12.1)

5. In September, the board of directors of Chaparral Steel approved a 2-for-1 stock split. After the split, how many shares of Chaparral Steel stock will an investor have if she or he owned 230 shares before the split?

6. Critical Thinking: Explain the immediate impact on the total value of all shares of the Chaparral Steel stock immediately after the split. What might be the long term impact on the value of the stock?