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5. Two non-dividend paying stocks have experienced the returns given below for the past five years. a. If both stocks started at $110, what

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5. Two non-dividend paying stocks have experienced the returns given below for the past five years. a. If both stocks started at $110, what are their prices at the end of the five years? b. If the returns occurred in reverse order, would your answers in a. differ? c. What is the annualized return for each stock? Does it differ between A and B? Year 1 Year 2 Year 3 Year 4 Year 5 Stock A 22% 0% -3% 14% -9% Stock B -9% -3% 14% 8% 14%

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