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6-12. (Holding-period dollar gain and return) Suppose you purchased 16 shares of Diamond Company stock for $24.22 per share on May 1, 2016. On September

6-12. (Holding-period dollar gain and return) Suppose you purchased 16 shares of Diamond Company stock for $24.22 per share on May 1, 2016. On September 1 of the same year, you sold 12 shares of the stock for $25.68 per share. Calculate the holding period dollar gain for the shares you sold, assuming no dividend was distributed, and calculate the holding period rate of return.

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