14. Using Dollar Cost Averaging. Over a four-year period, Matt Ewing purchased shares in the Oakmark I Fund. Using the following information, answer the questions that follow. You may want to review the concept of dollar cost averaging in Chapter 14 before completing this problem. (Obj. 4)

Year Investment Amount Price per Share 2007 $3,000 $50 per share 2008 $3,000 $35 per share 2009 $3,000 $30 per share 2010 $3,000 $45 per share

a. At the end of four years, what is the total amount invested?

b. At the end of four years, what is the total number of mutual fund shares purchased?

c. At the end of four years, what is the average cost for each mutual fund share?