Homework: Chapter 7. Stock Valuation Question 4, P7-6 (book/static) Part 1 of 3 HW Score: 0%, 0 of 16 points O Points: 0 of 1 Save Next question Common stock value-Zero growth Personal Finance Problem Kelsey Drums, Inc., is a well-established supplier of fine percussion instruments to orchestras all over the United States. The company's class A common stock has paid a dividend of $2.80 per share per year for the last 12 years. Management expects to continue to pay at that amount for the foreseeable future. Kim Arnold purchased 200 shares of Kelsey class A common 10 years ago at a time when the required rate of return for the stock was 7.6%. She wants to sell her shares today. The current required rate of return for the stock is 9.25%. How much total capital gain or loss will Kim have on her shares? ELLI The value of the stock when kim purchased it was 8 per share. (Round to the nearest cent.)