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You have the following rates of return for a risky portfolio for several recent years. Assume that the stock pays no dividends. Year 2014 2015

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You have the following rates of return for a risky portfolio for several recent years. Assume that the stock pays no dividends. Year 2014 2015 2016 2017 Beginning of Year Price $55 $60 $56 $59 # of Shares Bought or Sold 160 bought 110 bought 135 sold 135 sold What is the geometric average return for the period? Multiple Choice 4.75% O 1.77% 2.37% 3.57%

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