1) John Q. Smith purchased shares of Galifre Educational on the open January 2 at $34.98 per share. He earned a dividend of $0.31 in January. John Q. kept his dividend in cash - he did not reinvest it. Galifre Educational closed at January: $32.08 February: $32.87 March: $35.32 The total time-weighted rate of return for the calendar quarter is and the holding period return for the calendar quarter is