answer in text form please (without image) In addition to price-weighted and value-weighted indexes, an equally weighted index is one in which the index value is computed fromthe average rate of return of the stocks comprising the index. Equally weighted indexes are frequently used by financial researchers tomeasure portfolio performance.The following three defense stocks are to be combined into a stock index in January 2022 (perhaps a portfolio manager believesthese stocks are an appropriate benchmark for his or her performance):Douglas McDonnellDynamics GeneralInternational RockwellIndex returnShares (millions)350450210Index value%Index return1/1/22a. Compute the rate of return on an equally weighted index of the three defense stocks for the year ending December 31, 2022.Note: A negative value should be indicated by a minus sign. Do not round intermediate calculations. Enter your answer as apercent rounded to 2 decimal places.$ 65=2554%Price1/1/23$69b. If the index value is set to 100 on January 1, 2022, what will the index value be on January 1, 2023?Note: Do not round intermediate calculations. Round your answer to 2 decimal places.19431/1/24$ 813357c. What is the rate of return on the index for 2023?Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.

A price-weighted index is a sort of stock market index in which it assigns member companies a weight…

a. Compute the rate of return on an equally weighted index of the three defense stocks for the year ending December 31, 2022. Note: A negative value should be indicated by a minus sign. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Index return b. If the index value is set to 100 on January 1, 2022, what will the index value be on January 1, 2023? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Index value c. What is the rate of return on the index for 2023? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decin Index return