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How much did Mark make on this investment

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Q1. Mark bought 100 shares of XYZ stock on January 5 at $12.05 per share. XYZ declared a $0.30 per share dividend on February 24 with a record date of Friday, March 24 and a payment date of April 15. Mark sold his 100 shares on March 22 at a price of $13.22 a share. How much did Mark make on this investment?

A. $87

B. $117

C. $127

D. $147

E. $177

Q2. Lucky Mike's, Inc. has a target debt/equity ratio of 0.75. After-tax earnings for 2009 were $850,000 and the firm needs $1,150,000 for new investments. If the company follows a residual dividend policy, what dividend will be paid?

A. 0

B. 67,240

C. $192,857

D. $213,164

E. $337,500

Reference no: EM132622265

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