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d . What will be the divisor from periods t = 3 onwards if no splits are expected? e . Calculate the first - period

d. What will be the divisor from periods t=3 onwards if no splits are expected?
e. Calculate the first-period rate of return (from t=0 to t=1) on a market-value-weighted
index.
f. Calculate the first-period rate of return (from t=0 to t=1) on an equally-value-weighted
index.
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