She sold the stock the same day she received that last


Alice bought 400 shares of ABC stock for $84.47 per share. She sold the stock exactly four years later for $94.61 per share. She also received an annual dividend at the end of each of the four years she owned the stock. The dividends were $1.52 at the end of Year 1, $1.66 at the end of Year 2, $1.81 at the end of Year 3, and $1.97 at the end of Year 4. She sold the stock the same day she received that last dividend payment. What was Alice's internal rate of return (IRR) on this investment?

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Financial Management: She sold the stock the same day she received that last
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