Answer:
Rate of return is 45%
Explanation:
Rate of return is the percentage of total return earned on the share to its initial price whether in the form of dividend or in the form of capital appreciation.
Dividend Received = $0.75
Price appreciation = $34 - $24 = $10
Total return = $10 + $0.75 = $10.75
Rate of return = ( $10.75 / $24 ) x 100 = 44.79%
Rate of return = 45% ( rounded off to nearest whole number )
