GMAT Problem Solving

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Source: GWD

Level: 4

A certain company expects quarterly earnings of $0.80 per share of stock, half of which will be distributed as dividends to shareholders while the rest will be used for research and development. If earnings are greater than expected, shareholders will receive an additional $0.04 per share for each additional $0.10 of per share earnings. If quarterly earnings are $1.10 per share, what will be the dividend paid to a person who owns 200 shares of the company's stock?

  • A 92
  • B 96
  • C 104
  • D 120
  • E 240

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