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$)$:

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

Answer is complete and correct.

Index value

b$.$ 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.

Answer is complete but not entirely correct.

$\backslash$table$[[2022$ return,$-6\mathrm{.}56,\%$