PLEASE WORK OUT PROBLEM BY HAND

PLEASE DO NOT USE EXCEL FORMULA'S (IRR)

Year end prices of Copard Co's shares are as shown below. Year 0 1 2 3 4 5 $53.75 $56.25 $58.35 $55.50 $57.90 $61.70 Price ($s/share) End of Year Copard dividend payments are as shown below. 1 2 3 Dividends ($s/share) $2.75 $3.00 $3.25 Paid at End of Year 4 $3.50 5 $3.75 Investor D buys 100 shares at end of Year 0 Investor E buys 100 shares at the end of Year 2 Investor F buys 100 shares at the end of Year 4 None of the investors receive dividends in the year they purchased Copard's stock. All three investors sell their shares at the end of Year 5 immediately after receiving their dividends. What is each investor's return on their investment