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John Smith purchased 3,000 shares at $45 each After one year the share price increased to $57 per share. Also, during the year he earned

John Smith purchased 3,000 shares at $45 each After one year the share price increased to $57 per share. Also, during the year he earned a dividend of $1 50 per share. He decided to sell the shares after one year. What is his % rate of return?

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