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You purchased 500 shares of ABC stock on May 8. On May 16, you purchased another 200 shares and then on May 20 you purchased
You purchased 500 shares of ABC stock on May 8. On May 16, you purchased another 200 shares and then on May 20 you purchased a final 100 shares of ABC stock. The company declared a dividend of $.94 a share on May 6 to holders of record on Friday, May 22. The dividend is payable on June 12. Assume it takes 2 business days to clear the transactions of ABC stock (i.e. T+2), how much dividend income will you receive on June 12? Please show your work. A) $752 B) $640 C) $658 D) $728 E) $680
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