XYZ stock price and dividend history are as follows:

An Investor buys sIX shares of XYZ at the beginning of $2018,$ buys another two shares at the beginning of $2019,$ sells one share

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

Requlred:

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

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

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 $1,$

$($Negatlve amounts should be Indicated by a minus sign.$)$

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.$)($Negatlve value should be Indicated by a minus sign. Round your answer to $4$ decimal

places.$)$