Total Investment = 52,500
Given that both stocks are priced at $50, the total number of shares purchased equals 52,500/50 = 1,050 shares
Total share count = 1,050
Let x denote the total number of shares of Ed. Then, the number of Ngg shares equals 1050-x
The dividend return from Ed Stock is calculated as: x*0.05*50
The dividend return from Ngg stock is: (1050-x)*0.06*50
Given that the total returns amounted to 2,815, we can combine and set the two returns equal as follows:
x*0.05*50 + (1050-x)*0.06*50 = 2815
Resulting in: 2.5x + 3150 - 3x = 2815
From which we derive: 0.5x = 335
This leads to x = 335/0.5
Thus, x = 670 shares
This indicates you acquired 670 shares of Consolidated Edison (ED) stock and 380 shares of National Grid (NGG) stock