Please solve it like the example below.

Assume an investor deposits $113,433 in a professionally managed account. One year later, the account has grown in value to $138,407 and the investor withdraws $29,667. At the end of the second year, the account value is $86,490. No other additions or withdrawals were made. Calculate the time-weighted return of portfolio during years 1 and 2. Round the answer to two decimals in percentage form. Please write % sign in the units box. Your Answer: Assume an investor deposits $113,545 in a professionally managed account. One year later, the account has grown in value to $134,036 and the investor withdraws $50,431. At the end of the second year, the account value is $93,613. No other additions or withdrawals were made. Calculate the time-weighted return of portfolio during years 1 and 2. Round the answer to two decimals in percentage form. Please write % sign in the units box. Your Answer: Step 1 Calculate portfolio holding period return during year 1: ($134,036/ $113,545/$113,545 = 18.05% Step 2: Calculate portfolio holding period return during year 2: ($93,613 - ($134,036 -$50,431))/($134,036 -$50,431) = ($93,613 - $83,605)/$83,605 = 11,97% Step 3: Calculate the geometric average (the time weighted return) over 2 years: [(1+0.1805) x (1+0.1197)]^(1/2) -1 =[1.1805X1.1197]^0.5 -1 = 0.1497 = 14.97%