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4 Common stock value-Zero growth Personal Finance Problem Kelsey Drums, Inc., is a well-established...

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Common stock value-Zero growth Personal Finance Problem Kelsey Drums, Inc., is a well-established supplier of fine percussion instruments to orchestras all over the United States. The company's class A common stock has paid a dividend of $3.84 per share per year for the last 19 years. Management expects to continue to pay at that amount for the foreseeable future. Kim Arnold purchased 100 shares of Kelsey class A common 8 years ago at a time when the required rate of return for the stock was 7.4%. She wants to sell her shares today. The current required rate of return for the stock is 4.40%. How much total capital gain or loss will Kim have on her shares? The value of the stock when Kim purchased it was $ 35.38 per share. (Round to the nearest cent.)

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