Question 5 An investor invested in 100 shares of Apple Inc. on Jan 12, 2018 @ $ 177.08 The company paid the following dividend: 2/15/18 0.63 5/17/18 0.73 8/16/18 0.73 11/15/18 0.73 2/14/19 0.73...

Question 5

 An investor invested in 100 shares of Apple Inc. on Jan 12, 2018 @ $ 177.08

The company paid the following dividend:

Market price of Apple Inc. on 14 July 2021 is $ 148.88.

With effect from 31 August 2020 , Apple Inc. offered 4 for 1 stock split.

InApple's case, a4-for-1 split means that its stock would have sold at $96.19 at  market close on record date rather than at $384.76.

But holders  of 100 shares will thereafter hold 400 shares.

What is holding period return of the investor? Apply XIRR function in xls.