XYZ$\text{'}$s stock price and dividend history are as follows:

Year Beginning$-$of$-$Year Price Dividend Paid at Year$-$End

$2020$ $ $195$ $ $7$

$20212257$

$20221857$

$20231957$

An investor buys three shares of XYZ at the beginning of $2020,$ buys another two shares at the beginning of $2021,$ sells one share at the beginning of $2022,$ and sells all four remaining shares at the beginning of $2023.$

Required:

What are the arithmetic and geometric average time$-$weighted rates of return for the investor?

Note: Round your year$-$by$-$year rates of return and final answers to $2$ decimal places. Do not round other calculations.

What is the dollar$-$weighted rate of return? $($Hint: Carefully prepare a chart of cash flows for the four dates corresponding to the turns of the year for January $1,2020,$ to January $1,2023.$ If your calculator cannot calculate internal rate of return, you will have to use trial and error.$)$