In Example 18.6-7, compute the following:

(a) The probability that the investor will sell out completely.

(b) The probability that the investor will own at least 20 securities.

(c) The probability that the investor will own between 20 and 30 securities, inclusive.

(d) The investor’s net annual equity if only 20% of the securities depreciate by 30% a year, and the remaining 80% appreciate by 12% a year.