Last Year Mike Bought 100 Shares of Dallas Corporation Common

Multiple Choice

Last year Mike bought 100 shares of Dallas Corporation common stock for $53 per share. Duringthe year he received dividends of $1.45 per share. The stock is currently selling for $60 per share.What rate of return did Mike earn over the year?

A) 14.1 percent
B) 13.2 percent
C) 15.9 percent
D) 11.7 percent