Michael purchased 1 share of Apple stock at $30/ share 3 years ago. The current market...

  

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Michael purchased 1 share of Apple stock at $30/ share 3 years ago. The current market value of Apple stock is $110/share. Since buying the stock, the following dividends have been paid: Year 1: $2.50/share Year 2: $2.50/share Year 3: $3.00/share What is the IRR that Michael earned on his investment? Michael purchased 1 share of Apple stock at $30/ share 3 years ago. The current market value of Apple stock is $110/share. Since buying the stock, the following dividends have been paid: Year 1: $2.50/share Year 2: $2.50/share Year 3: $3.00/share What is the IRR that Michael earned on his investment?