During the year the stock paid dividends of 604 per share, Financial Management

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During the year the stock paid dividends of 604 per share

Tom purchased 100 shares of Dalia Co. stock at a price of $124.61 four months ago. He sold all stocks today for $127.61. During the year the stock paid dividends of $6.04 per share. What is Tom’s effective annual rate? Round the answers to two decimal places in percentage form.

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Financial Management: During the year the stock paid dividends of 604 per share

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