Problem:
Roy purchased 3,500 shares of Ernst stock for $225,678 one year ago. The stock pays annual dividends of $.50 a share. Today, he sold all of his shares for $77.82 a share.
Required:
Question: What is his total return on this investment?
a. 21.12 percent
b. 21.25 percent
c. 21.33 percent
d. 21.47 percent
e. 21.58 percent
Note: Please describe comprehensively and provide step by step solution.