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The following three defense stocks are to be combined into a stock index in January 2019 (perhaps a portfolio manager believes these stocks are an

The following three defense stocks are to be combined into a stock index in January 2019 (perhaps a portfolio manager believes these stocks are an appropriate benchmark for his or her performance):

PriceShares (millions)1/1/191/1/201/1/21Douglas McDonnell340$103$106$118Dynamics General450453953International Rockwell410746379

a. Calculate the initial value of the index if a price-weighting scheme is used.

B. What is the rate of return on this index for the year ending December 31, 2019? For the year ending December 31, 2020?

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