Following is a recent Giga Tech. press release: REDMOND, Wash.—Nov. 29, 2017 — Giga Tech. on Wednesday announced that its board of directors declared a quarterly dividend of $0.12 per share. The dividend is payable March 8, 2018, to shareholders of record on Feb. 15, 2018. The ex-dividend date will be Feb. 14, 2018. Prepare the journal entries Giga Tech. used to record the declaration and payment of the cash dividend for its 8,000 million shares.

An investor purchases 500 shares of nevada industries common stock for $22.00 per share today. at t = 1 year, this investor receives a $0.42 per share dividend (which is not reinvested) on the 500 shares and purchases an additional 500 shares for $24.75 per share. at t = 2 years, he receives another $0.42 (not reinvested) per share dividend on 1,000 shares and purchases 600 more shares for $31.25 per share. at t = 3 years, he sells 1,000 of the shares for $35.50 per share and the remaining 600 shares at $36.00 per share, but receives no dividends. assuming no commissions or taxes, the money-weighted rate of return received on this investment is closest to: