XYZ stock price and dividend history are as follows:

An investor buys three shares of XYZ at the beginning of $2018,$ buys another one shares at the beginning of $2019,$ sells one share at

the beginning of $2020,$ and sells all three remaining shares at the beginning of $2021.$

Required:

a$.$ What are the arithmetic and geometric average time$-$weighted rates of return for the investor? $($Do not round intermediate

calculations. Round your answers to $2$ decimal places.$)$

Answer is complete and correct.

b$-1.$ Prepare a chart of cash flows for the four dates corresponding to the turns of the year for January $1,2018,$ to January $1,2021.$

$($Negative amounts should be indicated by a minus sign.$)$

Answer is complete but not entirely correct.b$-1.$ Prepare a chart of cash flows for the four dates corresponding to the turns of the year for January $1,2018,$ to January $1,2021.$

$($Negative amounts should be indicated by a minus sign.$)$

Answer is complete but not entirely correct.

b$-2.$ What is the dollar$-$weighted rate of return? $($Hint: If your calculator cannot calculate internal rate of return, you will have to use a

spreadsheet or trial and error.$)($Negative value should be indicated by a minus sign. Round your answer to $4$ decimal places.$)$

Answer is complete but not entirely correct.