=+1 a Tear plc has not paid a dividend for 20 years. The current share price is 580p and the current index level is 3,100. Calculate total shareholder returns for the past three years, the past five years and the past ten years, given the following data:

Time before Share price Share present

(pence)

index 1 year 560 3,000 2 years 550 2,400 3 years 600 2,500 4 years 500 2.000 5 years 450 1,850 6 years 400 1,700 7 years 250 1,300 8 years 170 1.500 9 years 130 1,300 10 years 125 1,000 b