Suppose you invested $15,000 in the stock of XYZ company in early 2020. You have compiled the monthly returns on this stock during the period of 2015-2019, as given below.

2015	2016	2017	2018	2019
-0.0214	-0.0347	-0.1824	-0.0723	-0.1017
-0.0106	-0.0566	-0.0070	-0.1021	0.0264
0.0262	0.0158	0.0010	0.1114	0.1344
-0.1196	0.0862	-0.0648	0.2257	0.0786
-0.0313	0.0675	0.2378	-0.0043	-0.1772
-0.0362	0.0609	-0.0512	0.1867	-0.0953
-0.1137	-0.0203	0.1229	-0.0255	0.0978
0.0401	0.0100	-0.1156	0.1831	-0.1110
0.0129	-0.0230	-0.2416	-0.0360	0.1020
0.0652	0.1087	-0.2591	-0.0531	0.1099
0.1196	-0.1980	-0.0844	-0.0228	-0.0816
-0.0789	-0.0012	-0.0833	0.0170	0.0250

1. Using the historical method, calculate the 1% monthly VaR in dollars.

2. List and describe three general limitations of VaR.