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David Smith purchases two shares of the stock for $100. One year later, the stock price is $115 and it pays a dividend $5 per

David Smith purchases two shares of the stock for $100. One year later, the stock price is $115 and it pays a dividend $5 per share. He decides to sell one share at $115. At the end of the second year, the stock pays a dividend $5 per share but the price has fallen to $105. David decides to sell his entire holdings of this stock. 


Calculate the time-weighted returns and money-weighted returns for David's investment separately

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