Sarah and James Hernandez purchased 320 shares of Macy’s stock at $15 a share. One year later, they sold the stock for $35.00 a share. They paid a broker a commission of $7 when they purchased the stock and a commission of $11 when they sold the stock. During the 12-month period the couple owned the stock, Macy’s paid dividends that totaled $2.05 a share. Calculate the Hernandezes’ total return for this investment. (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Sarah and James Hernandez purchased 320 shares of Macy’s stock at $15 a share. One year later, they sold the stock for $35.00 a share. They paid a broker a commission of $7 when they purchased the stock and a commission of $11 when they sold the stock. During the 12-month period the couple owned the stock, Macy’s paid dividends that totaled $2.05 a share. Calculate the Hernandezes’ total return for this investment. (Do not round intermediate calculations. Round your answer to 2 decimal places.)

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter3: Income Sources

Section: Chapter Questions

Problem 31P

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