Yesterday Dayne sold the 250 shares of the Johnson & Johnson (J&J) stock that he owned for $61 per share. When he purchased the stock two years ago, Dayne paid $59.50 per share. Every three months during the time that he held the stock, Dayne received a quarterly dividend equal to $0.50
(a) What return (yield) did Dayne earn during the two years that he held J&J?
(b) If the price of the stock was $63 per share one year ago, what return did Dayne earn in each year he held the stock?