II. An analyst gathered the following information regarding a mutual fund's returns over 5 years: Year Asset Under Management at the Beginning of the Year $200 million $220 million $260 million $180 million $215 million Net Return 20% 10% -10% 8% 15% 1. Calculate the holding period return for the 5-year period. 2. Calculate the arithmetic mean annual return and the geometric mean annual return. 3. Calculate the money weighted-annual return. 4. Suppose that the mutual fund spends a fixed amount of $2,000,000 every year on expenses that are unrelated to the manger's performance, given that an investor faces a tax rate of 20% and that the rate of inflation is 4.5%. a. What is the annual gross rate of retum for Year 2. b. Assume that all gains are realized at the end of the year and that taxes are paid immediately at that time. What is the after-tax net return for the investor in year 5