The common stock of X-Tech Inc. had the following historic prices. Time Price of X-Tech 3/01/2011 50.00 3/01/2012 47.00 3/01/2013 76.00 3/01/2014 80.00 3/01/2015 85.00 3/01/2016 90.00

1a)

What is the arithmetic mean annual return for X-Tech?

1 (b)

What is the geometric mean annual return for X-Tech?

make the procedure you use for each problem obvious, by including any formula you use, and explain how you arrive at the answer