Tock in Trochel Office Supplies trades at $72.40 per share and pays a yearly dividend of $6.92 per share. If David owns stock in Trochel Office Supplies worth $6,443.60, how much does he get paid in yearly dividends? a. $678.16 b. $931.16 c. $615.88 d. $560.52

The correct answer is:

$615.88 (d)

Explanation:

First let us lay out the particulars stated in the question:

amount per share = $72.40

yearly dividend = $6.92

worth of stock owned = $6,443.60

Secondly, let us calculate the total shares that make up David's Total stock worth;

$72.40 = 1 share

∴ $6,443.60 = ×

Therefore total number of shares owned by David = 89 shares

Next we calculate the total number of dividends in 89 shares as follows;

1 share's yearly dividend = $6.92

∴ 89 share's yearly dividend = 6.92 × 89 = 615.88

Therefore David's yearly dividend is $615.88

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