Global Cycles GC offers investors a DRIP program An investor
Global Cycles (GC) offers investors a DRIP program. An investor purchases 100 shares of GC at a price of $20 per share on January 2. How many shares will the investor own on December 31 if the following dividends are paid and the investor participates in the DRIP program (assume the firm allows fractional shares and accounts for them up to three decimal places)? If the stock’s price is $27.50 on December 31 what is the value of her investment in GC?
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