Strubeck Corporation sponsors a pension plan for its employees. It manages part of the equity portfolio in-house and delegates management of the balance to Super Trust Company. As chief investment officer of Strubeck, you want to review the performance of the in-house and Super Trust portfolios over the last four quarters. You have arranged for outflows and inflows to the portfolios to be made at the very beginning of the quarter. The table below summarizes the inflows and outflows as well as the two portfolios' valuations. In the table, the ending value is the portfolio's value just prior to the cash inflow or outflow at the beginning of the quarter. The amount invested is the amount each portfolio manager is responsible for investing. Table 1: Cash Flows for the In-House Strubeck Account and the Super Trust Account Period Quarters 1 2 3 4 In-House Account Beginning value 4,000,000 6,000,000 5,775,000 6,720,000 Beginning of period inflow (outflow) 1,000,000 (500,000) 225,000 (600,000) Amount invested 5,000,000 5,500,000 6,000,000 6,120,000 Ending value 6,000,000 5,775,000 6,720,000 5,508,000

Based on the information given, address the following. Calculate the time-weighted rate of return for the in-house account.