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A French company (CDE) purchased 50,000 euros worth of an American company's (JKL Corp.) stock.At the time of purchase, JKL traded for $50/share and the
A French company (CDE) purchased 50,000 euros worth of an American company's (JKL Corp.) stock.At the time of purchase, JKL traded for $50/share and the exchange rate was $2/.CDE received$5 dividend/share over the life of the investment, which the company exchanged at a rate of .6/$.Find CDE's percentage return in terms of euros if the company sold all its shares of JKL when the stock traded at $40/share and the exchange rate was .4/$.Round intermediate steps to four decimals.
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