What was the percent decrease in the price of MegaTek (MGTK) stock during the market decline of March 1, 2001, to March 1, 2002?(1) The price of MGTK was $56.20 on March 1, 2001.(2) The price of the stock on January 1, 2002, was only one-quarter of its price as of March 1, 2001.

Answer:Insufficient data.Step-by-step explanation:Here, we need to find the percent decrease in the price of the stock during the market decline of March 1, 2001, to March 1, 2002,i.e [tex]\frac{\text{Price of stocks on 1 March 2001 - Price of stock 1 March 2002}}{\text{Price on 2001}}\times 100[/tex](1)∵ The price of the stock during March 1, 2001 = $56.20,So, the percentage decrease = [tex]\frac{56.20 - \text{Price of stock March 1, 2002}}{\text{Price on 2001}}\times 100[/tex]Thus, data is insufficient to find the percentage decrease.(2) ∵ The price of the stock during January 1, 2002 = 1 quarter of $56.20,[tex]=\frac{1}{4}(56.20)[/tex]= $ 14.05i.e. we have neither price in 1 march 2001 nor price in 1 march 2002.Thus, data is insufficient to find the percentage decrease.Even we combined the statements (1) and (2),The data is insufficient to find the percentage decrease.