Statements concerning dividend paid

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Reference no: EM132005774

1. Linda purchased 100 shares of FX stock on Wednesday, August 7th. Tom purchased 100 shares of FX stock on Thursday, August 8th. FX declared a dividend on July 20th to shareholders of record on August 12th and payable on September 1st. Which one of the following statements concerning the dividend paid on September 1st is correct given this information?

Neither Linda nor Tom are entitled to the dividend.

Tom is entitled to the dividend but Linda is not.

Linda is entitled to the dividend but Tom is not.

Both Linda and Tom are entitled to the dividend.

Both Linda and Tom are entitled to a prorata share of the dividend.

2. Turner Enterprises is analyzing a project that is expected to have annual cash flows of $46,400, $51,300 and –$15,200 for Years 1 to 3, respectively. The initial cash outlay is $65,900 and the discount rate is 12 percent. What is the modified IRR?

16.98%

17.77%

18.13%

17.04%

18.66%

Reference no: EM132005774

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