On January 1, 2017, Matis Herring purchased 2,500 shares of the Gulp Seltzer Corp. at...
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On January 1, 2017, Matis Herring purchased 2,500 shares of the Gulp Seltzer Corp. at $34.86 per share. The stock paid an annual dividend of $1.27 per share at the end of each year. At the end of 2017, the market price of the stock had declined to $31.79 per share. Matis did not sell the stock on that date but held the stock until the end of 2018, after he had again received the annual dividend per share of $1.27. He sold the stock at the end of 2018 for $36.11 per share. Calculate his Arithmetic Average Annual Rate of Return and Geometric Average Annual Rate of Return for his holding period.
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