Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Sarah and James Hernandez purchased 160 shares of Macy's stock at $33 a share. One year later, they sold the stock for $45.00 a share.
Sarah and James Hernandez purchased 160 shares of Macy's stock at $33 a share. One year later, they sold the stock for $45.00 a share. They paid a broker a commision of $10 when they purchased the stock and a commision of $14 when they sold the stock. During the 12-month period the couple owned the stock, Macy's paid dividends that totaled $1.57 a share. Calculate the Hernandez total return for this investment. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Total return
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started