Josh purchased 100 shares of XOM for $76.63 per share at the beginning of 2011. He received dividends per share of $1.37 (2011), $1.55 (2012), $1.66 (2013), $1.74 (2014), $1.85 (2015)
At the end of 2015 just after receiving the last dividend, he sold the stock for $84.76. What was his average annual rate of return form both dividends and capital gains? (Hint: compute the IRR, assume that all dividends were received at the end of the year.)
A) 9.831%
B) 3.774%
C) 3.423%
D) 4.94%
Answer: D
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