For each of the last six quarters, Managers L and M have provided you with the total dollar value of the funds they manage, along with the quarterly contributions or withdrawals made by their clients. (Note: Contributions are indicated by positive numbers, withdrawals by negative numbers.) MANAGER L MANAGER M Total Funds Contributions/ Total Funds Contributions/ Quarter Under Management Withdrawals Under Management Withdrawals Initial $513,000 $721,000 1 530,000 10,000 697,000 -34,000 2 540,000 5,500 652,000 -34,000 3 564,000 10,500 633,000 -34,000 4 591,000 3,500 618,000 -34,000 5 605,000 11,000 605,000 -34,000 For each manager, calculate: a. her money-weighted return. Do not round intermediate calculations. Round your answers to two decimal places. Money-weighted return (Manager L): % Money-weighted return (Manager M): % b. her time-weighted return. Do not round intermediate calculations. Round your answers to two decimal places. Time-weighted return (Manager L): % Time-weighted return (Manager M): % C. estimates of her quarterly performance returns using the Dietz approximation method, assuming contributions/withdrawals are made exactly halfway through the quarter. Do not round intermediate calculations. Round your answers to two decimal places. Use a minus sign to enter negative values, if any. Quarter Return (Manager L) Return (Manager M) 1 % % 2 % % 3 % % 4 % % 5 % % For each of the last six quarters, Managers L and M have provided you with the total dollar value of the funds they manage, along with the quarterly contributions or withdrawals made by their clients. (Note: Contributions are indicated by positive numbers, withdrawals by negative numbers.) MANAGER L MANAGER M Total Funds Contributions/ Total Funds Contributions/ Quarter Under Management Withdrawals Under Management Withdrawals Initial $513,000 $721,000 1 530,000 10,000 697,000 -34,000 2 540,000 5,500 652,000 -34,000 3 564,000 10,500 633,000 -34,000 4 591,000 3,500 618,000 -34,000 5 605,000 11,000 605,000 -34,000 For each manager, calculate: a. her money-weighted return. Do not round intermediate calculations. Round your answers to two decimal places. Money-weighted return (Manager L): % Money-weighted return (Manager M): % b. her time-weighted return. Do not round intermediate calculations. Round your answers to two decimal places. Time-weighted return (Manager L): % Time-weighted return (Manager M): % C. estimates of her quarterly performance returns using the Dietz approximation method, assuming contributions/withdrawals are made exactly halfway through the quarter. Do not round intermediate calculations. Round your answers to two decimal places. Use a minus sign to enter negative values, if any. Quarter Return (Manager L) Return (Manager M) 1 % % 2 % % 3 % % 4 % % 5 % %