Problem:
One year ago, Theresa purchased 600 shares of Outland Co. stock for $3,600. The stock does not pay any regular dividends but it did pay a special dividend of $0.25 a share last week. This morning, she sold her shares for $7.25 a share.
Required:
Question: What was the total return on this investment?
- 18.00 percent
- 20.83 percent
- 22.50 percent
- 25.00 percent
- 27.33 percent
Note: Explain in detail.