Question
Warren paid $20 per share for 100 shares of Oil Well Mutual Fund in 2001. He received dividends of $150 per year in 2008 and
Warren paid $20 per share for 100 shares of Oil Well Mutual Fund in 2001. He received dividends of $150 per year in 2008 and 2009 that were reinvested to purchase 50 new shares of the fund. What is Warren's average cost per share for this investment?
a) $20.00 per share
b) $15.50 per share
c) $15.33 per share
d) $16.00 per share
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Financial Management Principles and Applications
Authors: Sheridan Titman, Arthur J. Keown, John H. Martin
13th edition
134417216, 978-0134417509, 013441750X, 978-0134417219
