Answer:
$640 is the correct answer to this question but it is missing in the choices.
Step-by-step explanation:
Total amount paid for all shares last year is found by multiplying the number of shares bought by the price of one share.
Number of shares purchased = 200
Price per share = $29
Total amount paid for all shares last year = 200 *29 = $5,800
If the stock pays $0.60 dividend per share, find the total dividend received for your 200 shares you initially bought;
= 200 *$0.60
Total dividend received = $120
Next, you are selling it for 31.60, find the total proceeds you will receive from your sale of 200 shares;
Total proceeds from sales = 200 * $31.60
Total proceeds from sales = $6,320
Dollar return = net proceeds from sale + dividend income - purchase price
Dollar return = $6,320 + $120 - $5,800
= $640