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1. Considering the following quarterly prices and dividends for two share classes for Bank of ion Preferred Shares (BAC-D) Price 25.22 24.58 25.74 25.81 25.40

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1. Considering the following quarterly prices and dividends for two share classes for Bank of ion Preferred Shares (BAC-D) Price 25.22 24.58 25.74 25.81 25.40 25.49 Common Shares (BAC) Dividend 075 075 075 .05 .05 .05 End Date Price Mar 2017 Dec 2016 2016 Jun 2016 Mar 2016 Dec 2015 23.59 23.09 5.65 14.49 13.52 16.83 Dividend 0.39 0.39 0.39 0.39 0.39 0.39 A. Calculate the quarterly holding period returns for each share class from January 2016 through March 2017. Hint: Assume the beginning of quarter price is the price from the last quarter (so the beginning share price for the quarter ending March 2016 is from December 2015)

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