Question

Janice bought 40 shares of stock at $31.82 per share. She received dividends of $1.11 per share for 1 year. What was her purchase price

Answer 1

Her purchase price was 40×($31.82-$1.11)=$4×307.1=$1228.4

Answer 2

$1,228.40

Explanation:

Janice bought 40 shares of stock at = $31.82 per share

She received dividends per share = $1.11

Now her purchase price per share = 31.82 - 1.11 = $30.71

Her purchase price of total 40 shares = 30.71 × 40 = $1,228.40

Purchase price of stock would be $1,228.40.