Ammar Purchased 100 Shares of Northern Bank at $55 Dollars

question 67

Multiple Choice

Ammar purchased 100 shares of Northern Bank at $55 dollars a share in January of 2004.The shares subsequently split two-for-one on December 31, 2004 after paying an annual dividend of $1.00 per share.If Ammar sells all of his shares on the first trading day in January 2005 for $30 each, what has been his return on investment?

• A)Zero
• B)9.1%
• C)10.0%
• D)10.9%
• E)15%