Over the past 2 years, Jonas Cone has used a dollar-cost averaging formula to purchase $300 worth of FCI common stock each month. The price per share paid each month over the 2 years is given in the following table. Assume that Jonas paid no brokerage commissions on these transactions.

a. How much was Jonas€™s total investment over the 2-year period?
b. How many shares did Jonas purchase over the 2-year period?
c. Use your findings in parts a and b to calculate Jonas€™s average cost per share of FCI.
d. What was the value of Jonas€™s holdings in FCI at the end of the second year?

Price per Share of FCI ($) Month January February March April May June Year 1 11.63 11.50 11.50 11.00 11.75 12.00 12.38 12.50 12.25 12.50 11.85 11.50 Year 2 11.38 11.75 12.00 12.00 12.13 12.50 12.75 13.00 13.25 13.00 13.38 13.50 August September October November December