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A manager buys three shares of stock today, and then sells one of those shares each year for the next 3 years. His actions and

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A manager buys three shares of stock today, and then sells one of those shares each year for the next 3 years. His actions and the price history of the stock are summarized below. The stock pays no dividends. Time 1 2 B Price $ 135 165 165 165 Action Buy 3 Shares Sell 1 share Sell 1 Share Sell 1 Share Required: a. Calculate the time weighted geometric average return on this portfolio (Do not round intermediate calculations. Round your answer to 2 decimal places.) Answer is complete but not entirely correct. Geometric average return 3.57 b. Calculate the time weighted arithmetic average return on this portfolio (Do not round intermediate calculations. Round your answer to 2 decimal places.) Arithmetic average return 28 c. Calculate the dollar-weighted average return on this portfolio (Do not round intermediate calculations. Round your answer to 2 decimal places.) Dollar-weighted average return %

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