2.1 The Close column tells us what the price was at the market close on a particular date. The adjusted close accounts for dividends and stock splitsthis adjustment will allow us to use the percentage change in the adjusted price as a measure of stock returns. What is the adjusted close price onJuly31 2023for MSFT? Why is this price different from the close price?

Q2.2 We saw that the stock return is equal to (P1P0)/P0 when there are no dividends. What was the return of Microsoft stock from September 30 to October 31 2023? What was the (arithmetic) average monthly return of Microsoft from October 2013to October 2023? What was the total return for Microsoft from October 2013to October 2023?