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You invested $3 million in a stock selling for $600 a share. The stock will pay an annual dividend of $3,000. After one year you

You invested $3 million in a stock selling for $600 a share. The stock will pay an annual dividend of $3,000. After one year you expect to sell the stock for $700. The risk-free investment is a 15-year T-bond that yields a sure rate of return of 2%. What is your holding period return? (Sow work).

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