1. Describe and interpret the assumptions related to the problem.
2. Apply the appropriate mathematical model to solve the problem.
3. Calculate the correct solution to the problem.

1. Exactly one year ago, Harv bought 500 shares of Primer Corp stock for $22.75 per share. He plans on selling all of the shares today at the current market price of $26.50 per share. Over the last year, Primer Corp. paid out dividends of $1.75 per share on its common stock. What is Harvs holding period return for the year on Primer Corp. stock? Submit your answer as a percentage and round to two decimal places.