Problemwallace davis purchased 520 shares of dell stock at, Ask an Expert

Accounting

Problem:

Wallace Davis purchased 520 shares of Dell stock at $30.50 a share. One year later, he sold the stock for $27 a share. He paid his broker a $38 commission when he purchased the stock and a $40 commission when he sold it. During the 12 months he owned the stock, the company paid no dividends.

Required:

Question: Calculate Wallace's total return on this investment.

Note: Please provide through step by step calculations.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91169863

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