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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

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.
Required:
a. Calculate the time-weighted geometric average return on this portfolio (Do not round intermediate calculations. Round your
answer to 2 decimel pleces.)
Geomeric average return
b. Calculate the time-weighted arithmetic average return on this portfolio. (Do not round intermediate calculations. Round your
answer to 2 decimal places.)
Arthmetic average reaura
%
c. Calculate the dollar-weighted average return on this portfollo, (Do not round intermediate calculations, Round your answer to 2
decimal places.)
Dollar-weighted awerage return
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