Question: 26. A portfolio manager invests 5,000 annually in a security for four years at the prices shown in the following exhibit. Year 1 Year 2

26. A portfolio manager invests 5,000 annually in a security for four years at the prices shown in the following exhibit. Year 1 Year 2 Year 3 Year 4 Purchase Price of Security ( per unit) 80.64 65.798 59.5 55.36 The average price is best represented as the: A. harmonic mean of 76.48. B. geometric mean of 77.26. C. arithmetic average of 78.00. 62.00 76.00 84.00 90.00

26. A portfolio manager invests 65,000 annually in a security for four years at the prices shown in the following exhibit. The average price is best represented as the: A. harmonic mean of 76.48. B. geometric mean of 77.26. C. arithmetic average of 78.00

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