The New-York-based mutual fund Apex has invested in the Paris-traded Etablissements Michelin at the cost of...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The New-York-based mutual fund Apex has invested in the Paris-traded Etablissements Michelin at the cost of € 74 per share. One year later Apex liquidates its investment selling Michelin stock at €81, having earned a dividend of € 2.40 per share. Over the investment period the euro declined by 2.7%. What was Apex total return from investing in Michelin stock The New-York-based mutual fund Apex has invested in the Paris-traded Etablissements Michelin at the cost of € 74 per share. One year later Apex liquidates its investment selling Michelin stock at €81, having earned a dividend of € 2.40 per share. Over the investment period the euro declined by 2.7%. What was Apex total return from investing in Michelin stock
Expert Answer:
Answer rating: 100% (QA)
Buying Price 74 per share Selling Price 81 Per Share Dividend 240 per share Total Return Se... View the full answer
Related Book For
Probability and Statistical Inference
ISBN: 978-0321923271
9th edition
Authors: Robert V. Hogg, Elliot Tanis, Dale Zimmerman
Posted Date:
Students also viewed these accounting questions
-
Apex Mutual Fund invests primarily in technology stocks. The price of the fund at the end of each month for the 12 months of 2006 is shown in Table P-6. Table P-6 MonthMutual Fund Price January 19.39...
-
A mutual fund recently reported a 13% annual return over the last 5-year period. If the fund charged a .75% 12b-1 fee, and there was a 5% front-end load charge, what would be the future value of a...
-
Apex Financial Ltd. is interested in investing in Scion Systems Inc. Scion's current dividend is $5.50 and its shares are selling for $40. The required rate of return for firms like Scion is 8...
-
Bridge hands. In the game of bridge, four players are dealt hands of 13 cards each. An important statistic is the distribution of the number of cards in each suit in a hand. Which is the most likely,...
-
Consider the market for beef discussed in this chapter. Suppose that the government decides to fight cholesterol by levying a tax of 50 cents per pound on sales of beef. Follow these steps to analyze...
-
Clyde Billy is conducting the audit of Hoops Inc. and is examining Hoopss inventory balances. Billy plans to select a sample of inventory items for examination and will verify quantities and perform...
-
Audit procedures can be classified into the following categories, except: (a) Risk assessment procedures (b) Tests of controls (c) Substantive procedures (d) Substantive analytical procedures (e)...
-
A traveler was stranded in her car recently in a snowy blizzard in Wyoming. Unable to drive any farther, the stranded motorist used her cell phone to dial 911 to call for help. Because the caller was...
-
You have just been hired as a new management trainee byEarrings unlimited, a distributor of earrings to various retailoutlets located in shopping malls across the country. In the past,the company h...
-
Ryan Ross (111-11-1112), Oscar Omega (222-22-2222), Clark Carey (333-33-3333), and Kim Kardigan (444-44-4444) are equal active members in ROCK the Ages LLC. ROCK serves as agents and managers for...
-
Tri-products is trying to decide whether to make-or-buy an accessory item for one of their products. It is projected that this item will sell for $10 each. If the item is outsourced, there is...
-
solve 3p(p3) 13 8(p+3)-43 -
-
Pfd Company has debt with a yield to maturity of 6.5%, a cost of equity of 14.3%, and a cost of preferred stock of 9.7%. The market values of its debt, preferred stock, and equity are $10.5 million,...
-
Find the equation for the line that is perpendicular to the line with the equation y+2=(1)/(4)(x-4) passing through the point (-2,-4)
-
1) Describe the two kinds of possession. Be specific. Give examples of each kind of possession. 3) Possession can be "knowing" or "mere." Describe both in detail and give examples. 4) What kind of...
-
YumPizza had $47175 in cash and $50604 in notes payable, $25718 in accounts receivable and $31489 in accounts payable, $15459 in inventory, $10686 in accrued wages and $33745 in accrued taxes. The...
-
Kingston Development Corp. purchased a piece of property for $2.79 million. The firm paid a down payment of 15 percent in cash and financed the balance. The loan terms require monthly payments for 15...
-
Choose a company from the SEC EDGAR Web site for your Key Assignment to evaluate for the impact of convergence to IFRS. Review the financial reports and notes of the company you have chosen from the...
-
A candy manufacturer selects mints at random from the production line and weighs them. For one week, the day shift weighed n1 = 194 mints and the night shift weighed n2 = 162 mints. The numbers of...
-
It is believed that approximately 75% of American youth now have insurance due to the health care law. Suppose this is true, and let X equal the number of American youth in a random sample of n = 15...
-
Let X-bar, Y-bar, S2X, and S2Y be the respective sample means and unbiased estimates of the variances obtained from independent samples of sizes n and m from the normal distributions...
-
Your family has a cat, and no one wants to empty the litter box. However, it has to be done daily. The six of you agree to take turns, so everyone has to empty the litter box every 6 days. You empty...
-
If possible, use the product rule to simplify the following: 1. \(21^{9} \times 21^{15}\) 2. \(5^{9} \times 8^{4}\)
-
Use the quotient rule to simplify \(\frac{5^{19}}{5^{11}}\).
Study smarter with the SolutionInn App