Question

The Hormel Corporation has an annual dividend rate of $1.04. If you owned 5,000 shares of
Hormel, how much would you receive annually in dividends?
$4,900
$5,000
$5,100
$5,200

Answer 1

Answer:

$4,900

Step-by-step explanation:

$\frac{\mbox{number of shares}}{\mbox{annual dividend}} = \frac{5,000}{1.04}$

This simplifies to 4807.7, which you can round to $4,900.