Question: 9. Using the data Date Close Dividends Adj. Close 12/31/2015 150.64 148.57 11/18/2015 157.39 1.025 155.23 8/19/2015 145.87 1.025 142.93 5/20/2015 161.90 1.025 157.54 2/11/2015

9. Using the data

Date	Close	Dividends	Adj. Close
12/31/2015	150.64		148.57
11/18/2015	157.39	1.025	155.23
8/19/2015	145.87	1.025	142.93
5/20/2015	161.90	1.025	157.54
2/11/2015	164.48	1.025	159.04
1/2/2015	164.06		157.66

a) Compute the HPR for each one of the five sub-periods presented in the table. b) Compute the Total Return for 2015 by compounding the five HPR estimates in a) back to back. How does your estimate compare to the one you obtained in Question 8b above? Why?

8B.

Using adjusted closing prices only, what was the Total Return for the stock for the year?

-8.18%

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