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One year ago, a U.S. investor converted dollars to yen and purchased 100 shares of stock a Japanese company at a price of 3,150 yen per share. The stock's total purchase cost was 315,000 yen. At the time of purchase, in the currency market I yen equaled $0.00952. Today, the stock is selling at a price of 3,465 yen per share, and in the currency market S1 equals 130 yen. The stock does not pay a dividend. If the investor were to sell the stock today and convert the proceeds back to dollars, what would be his realized return on his initial dollar investment from holding the stock?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92769702

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