$7\mathrm{.}9($Calculating the geometric and arithmetic average rates of return$)$ The common stock of the

Brangus Cattle Company had the following end$-$of$-$year stock prices over the last five years and

paid no cash dividends:

a$.$ Calculate the annual rate of return for each year from this information.

b$.$ What is the arithmetic average rate of return earned by investing in the company's stock

over this period?

c$.$ What is the geometric average rate of return earned by investing in the company's stock

over this period?

d$.$ Which type of average rate of return $($the arithmetic or geometric$)$ better describes the

average annual rate of return earned over the period? Why?

Not in excel, include the process