Her's stock original price was approximately $52.23 a share.
ROI is found by dividing the gain from the investment minus the cost of the investment by the cost of the investment: ROI = [tex] \frac{gain-cost}{cost} [/tex]
We know the ROI (7.7%, or 0.077) and the gain ($56.25).
0.077=[tex] \frac{56.25-cost}{cost} [/tex] ⇔ 0.077=[tex] \frac{56.25}{cost}-\frac{cost}{cost}[/tex] ⇔ 0.077=[tex] \frac{56.25}{cost}-1 [/tex] ⇔ 1.077=[tex] \frac{56.25}{cost} [/tex] ⇔ cost=[tex] \frac{56.25}{1.077} [/tex] ⇔ cost≈52.23
