Page 8 of 14 MAF307 Equity and Investment Analysis Trimester One 2023 Examination Geometric Average Quarterly Return 1.7% b) Using the historical prices, dividend data of the BlackBird Australian Share Fund provided in the table below, your friend Kevin calculates the average quarterly Return provided by the fund using both arithmetic average and geometric average formula. Kevin's calculated quarterly return values are also provide in the table below. i) Calculate the holding period returns provided by the fund for each of the four quarters between March 2022 to March 2023 and verify Kevin's estimate of Arithmetic Average Quarterly Return for BlackBird Australian Share Fund. ii) You want 3% per quarter return from your investment; hence you would like to invest in BlackBird Australian Share Fund, but Kevin warns you that the true historical return of the fund is only 1.7% per quarter hence the fund performance does not meet your expectation of future investment performance. Do you agree with Kevin? Why or Why not