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A stock has had the following year-end prices and dividends: Year 1 2 3 Price Dividend $63.40 70 20 $.85 79.1895 75.32 1.03 8

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Year Dividend return calculation return (%) 0.85 Price 63.40 70.20 79.18 75.32 84.18 98.62 0.95 1.03 (70.2-63.4+0.85)/63.4 *1

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