The following three defense stocks are to be combined into a stock index in January $2022($perhaps a portfolio manager believes these stocks are an appropriate benchmark for his or her performance$)$:

Shares $($millions$)$ Price

$1/1/221/1/231/1/24$

Douglas McDonnell $430$ $ $108$ $ $114$ $ $131$

Dynamics General $535383448$

International Rockwell $210675670$

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

What is the rate of return on this index for the year ending December $31,2022?$ For the year ending December $31,2023?$

Note: A negative value should be indicated by a minus sign. Do not round intermediate calculations. Enter your answers as a percent rounded to $2$ decimal places.