8. My son received a very generous gift of 20 shares of Johnson & Johnson...
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8. My son received a very generous gift of 20 shares of Johnson & Johnson stock for Christmas a few years ago. He received these on January 1, 2017, at a time when the stock price for a single share of the stock was 115.96. Over the last three years, he received a dividend of $2 per share for every share he owned on January 1, 2018, and on January 1, 2019. He sold 5 shares of his stock on July 1, 2018, at a price of 121.34 per share; and he purchased 5 shares of stock on July 1, 2019, at a price of 139.28 per share. On January 1, 2020, the value of the shares he owned was 145.75 per share. Find my sons internal rate of return (IRR) for this stock over this three-year period. (Assume that he has not received any dividend on January 1, 2020.)
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