AT & T had stock prices at the beginning of each year and the total dividend paid during the year in the past four years as the following. Assuming you invested in AT & T at the beginning of each year: [No work, no point.]

Year	Beginning of Year Price	Annual Dividend
2010	29.68	1.68
2011	30.46	1.72
2012	34.39	1.76
2013	35.24	1.80

a) Find the annual HPR (Holding period return) for each year of 2010, 2011, and 2012.

b) What is the arithmetic average return for those 3 years?

c) What is the geometric average return for those 3 years?

Thank you!