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Ali bought a share of stock for $60
Ali bought a share of stock for $60.50 that paid a dividend of $.80 and sold one year later for $86. What was his dollar profit or loss ?
Expert Solution
Dollar profit= P1-P0+D
Where P1= Sale price, P0= Purchase price and D= Diveidend received
Given, P1= $86, P0= $60.50 and D= $0.80
Plugging the values,
Dollar profit= $86-$60.50+0.80 = $26.30
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