1. A fund had the following annual prices and dividends (beginning of the year): 2002 2003 2004 2005* 2006 2007 $50 $55 $63 $20 $24 $23 $1 $1 $.40 $.40 $.40 * Price reflects a three for one split.

a. Compute each year return.

b. Compute the four years holding period return.

c. Compute the annualized rate of return