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at the end 4. XYZ stock price and dividend history are as follows: Year Beginning-of-year Price 2020 $100 2021 $110 2022 $90 2023 $95

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at the end 4. XYZ stock price and dividend history are as follows: Year Beginning-of-year Price 2020 $100 2021 $110 2022 $90 2023 $95 ed and Dividend Paid at Year-End $4 $4 $4 $4 An investor buys 3 shares of XYZ at the beginning of 2020, buys another 2 shares at the beginning of 2021, sells 1 share at the beginning of 2022, and sells all 4 remaining shares at the beginning of 2023. a. Calculate the arithmetic mean return and geometric mean return for the investor. b. Calculate the dollar-weighted rate of return for the investor.

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