Sophie Chan owns 200,000 shares of PAT Company. PAT is selling for $40 per share, so her investment is worth $4,000,000.

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answerhappygod
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Sophie Chan owns 200,000 shares of PAT Company. PAT is selling for $40 per share, so her investment is worth $4,000,000.

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Sophie Chan owns 200,000 shares of PAT Company. PAT is sellingfor $40 per share, so her investment is worth $4,000,000. Chanreinvests the gross amount of all dividends received to purchaseadditional shares. Assume that the clientele for PAT sharesconsists of tax-exempt investors. If PAT pays a $3.25 dividend,Chan’s new share ownership after reinvesting dividends at theex-dividend price would be closest to:
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