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Return Time A manager buys three shares of stock today, and then sells one of those shares each year for the next 3 years. His

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Return Time A manager buys three shares of stock today, and then sells one of those shares each year for the next 3 years. His actions and the price history of the stock are summarized below. The stock pays no dividends Price Action 0 5 200 Buy 3 shares 1 220 Sell 1 share 2 220 Sell l share 3 220 Sell 1 share Required: a. Calculate the time-weighted geometric average return on this portfolio. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Geometric average return % b. Calculate the time-weighted arithmetic average return on this portfolio. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Arithmetic average rotum %

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