3-40. An investor paid $750 for 10 shares of stock 8 years ago. Dividends of $5 per share were paid the first year, increasing by $2 per share per year until the latest dividend of $19 per share just received. The stock can now be sold for $1,500. If sold, what rate of return will have been earned on the investment? (Ans. 19.7%)

3-40. An investor paid $750 for 10 shares of stock 8 years ago. Dividends of $5 per share were paid the first year, increasing by $2 per share per year until the latest dividend of $19 per share just received. The stock can now be sold for $1,500. If sold, what rate of return will have been earned on the investment? (Ans. 19.7\%)