We are given the information that Microthin's stock price was $21 in December 2015, $29 in December 2016, $27 in December 2017, $20 in December 2018, and $26 in December 2019.It also pays annual dividend amounts varying from 2015 through 2019.

Let's assume you do the following transactions:

a)In the end of December 2015: buy 30,000 Microthin shares;

b) In the end of December 2016: collect the dividends ($0.39 per share) on your shares, and thensell 10,000 shares;

c) In the end of December 2017: collect the dividends ($0.43 per share) on your remaining shares, and thenbuy another 15,000 shares;

d) In the end of December 2018: collect the dividends ($0.50 per share) on your remaining shares, and then sell another 10,000 shares.

e) In the end of December 2019: collect the dividends ($0.52 per share) on your remaining shares, and then sell all your remaining shares.

Q1: What should be the IRR during the "December 2015 - December 2019" period for your Microthin stock investment?

Q2: The year-by-year annual returns after the World War II are provided on the provided Excel answer sheet, the tab "Case 3".Use =AVERAGE function to compute the post-WW2 1946-2019 average return for S&P stock market index (Rm) and for US "risk-free" T-bill (Rf), respectively.With such Rm and Rf amounts, and if Microthin's stock beta = 1.25 (based on the period of 1946-2019), what shall be the required return amount on Microthin stock if you apply the CAPM formula?

Q3: Based on your answers to Q1 and Q2, and apply both NPV and IRR rules, has your Microthin stock investment over the "Dec 2015 - Dec 2019" period been good or bad?