Determination of rate of return

Reference no: EM1345730

Last year Mike bought 100 shares of Dallas Corporation common stock for $53 per share. During the 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) 13.2 percent

B) 14.1 percent

C) 15.9 percent

D) 11.7 percent

Reference no: EM1345730

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