During the first quarter of 2015, Toronto Dominion Bank (TD) stock cost $45 per share and was expected to yield 4% per year in dividends, while CNA Financial Corp. (CNA) stock cost $40 per share and was expected to yield 2.5% per year in dividends.+ If you invested a total of $26,250 in these stocks and expected to earn $798 in dividends in a year, how many shares of each stock did you purchase? TD stock shares CNA stock shares

During the first quarter of 2015, Toronto Dominion Bank (TD) stock cost $45 per share and was expected to yield 4% per year in dividends, while CNA Financial Corp. (CNA) stock cost $40 per share and was expected to yield 2.5% per year in dividends.+ If you invested a total of $26,250 in these stocks and expected to earn $798 in dividends in a year, how many shares of each stock did you purchase? TD stock shares CNA stock shares

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter9: The Cost Of Capital

Section: Chapter Questions

Problem 5P

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During the first quarter of 2015, Toronto Dominion Bank (TD) stock cost $45 per share and was expected to yield 4% per year in dividends, while CNA Financial Corp. (CNA) stock cost $40 per share and was expected to yield 2.5% per year in dividends.† If you invested a total of $31,850 in these stocks and expected to earn $992 in dividends in a year, how many shares of each stock did you purchase?
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