3. (6 Points) The following table shows per-share price (P) and dividend (D) dynamics of three stocks: A, B, and C. The last row reports the number of outstanding shares of each stock A C 100 50 85 70 52 95 0 2 0 Po P1 D P2 D2 # Shares 68 56 94 1 3 0 2,400 3,000 1,000 1 (a) Suppose that your investment strategy is to hold a value-weighted portfolio of A, B, and C at each point in time. For simplicity, we assume that shares are perfectly divisible (i.e., you can buy or sell a fraction of a share). What is the net return on your portfolio at time t = 1? (b) What is the net return on your portfolio at time t = 2 (i.e., return from t = 1 to t = 2)? (c) Suppose that initially (at time t = 0) you invested $1,000. Suppose that your dynamic strategy is to consume all dividends that you receive and to reinvest capital gains in the value-weighted portfolio that you constructed earlier). How much money is in your investment account at the end of period 2 (after you receive t = 2- dividends)