Josh Purchased 100 Shares of XOM at the Beginning of 2007

Multiple Choice

Josh purchased 100 shares of XOM at the beginning of 2007. He received dividends per share of $1.37 (2007) , $1.55 (2008) , $1.66 (2009) , $1.74 (2010) , $1.85 (2011) . At the end of 2011, just after receiving the last dividend, he sold the stock for $84.76. At what rate did the dividends from the end of 2007 to the end of 2011? Assume that all dividends were received at the end of the year.

A) 7.8%
B) 6.2%
C) 13.1%
D) 35%