6. The following relates to shares of Equitable Inc. Year 2010 2011 2012 2013 95 Beginning-of-year price $100 $110 $90 Dividend paid at year-end $4 $4 $4 $4 An investor buys three shares of Equitable Inc. at the beginning of 2010, buys another two shares at the beginning of 2011, sells one share at the beginning of 2012, and sells all four remaining shares at the beginning of 2013. a. What are the arithmetic and geometric average time-weighted rates of return for the investor? b. What is the dollar-weighted rate of return? [10 Marks]