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A British investor purchases shares of AT&T at $30 per share when the exchange rate is 1.2 dollars per pound. Assume that over the next
A British investor purchases shares of AT&T at $30 per share when the exchange rate is 1.2 dollars per pound. Assume that over the next year, AT&T pays a dividend of $0.50 per share and its stock price rises to $34 per share, and that the exchange rate in one year is 1.23 dollars per pound. What will be the rate of return for the investor in pounds? Do not round calculations (that is, keep at least six decimals) until the very end. Enter your final answer as a number with four decimals (i.e., enter 0.098473 as 0.0985)
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