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.) Quarter Initial 1 MANAGER L L Total Funds Contributions/ Under Management withdrawals $487,000 513,000 11,000 529,000 5,500 542,000 11,500 577,000 2,500 604,000 17,000 MANAGER M Total Funds Contributions/ Under Management Withdrawals $699,000 688,000 -37,000 666,000 -37,000 617,000 -37,000 631,000 -37,000 611,000 -37,000 2 3 4 5 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 1 Return (Manager L) Return (Manager M) % % 2 % % 3 % % 4 % % 5 % %