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XYZ stock price and dividend history are as follows: Beginning-of-Year Dividend Paid at Year Price Year-End 2010 $ 108 $ 4 2011 $ 112 $

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XYZ stock price and dividend history are as follows: Beginning-of-Year Dividend Paid at Year Price Year-End 2010 $ 108 $ 4 2011 $ 112 $ 4 2012 $ 98 $ 4 2013 $ 103 $ 4 An investor buys four shares of XYZ at the beginning of 2010, buys another three shares at the beginning of 2011, sells one share at the beginning of 2012, and sells all six remaining shares at the beginning of 2013. 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.) Arithmetic mean Geometric mean -1. Prepare a chart of cash flows for the four dates corresponding to the turns of the year for January 1, 2010, to January 1, 2013. (Negative amounts should be indicated by a minus sign.) Cash Flow $ Date 1/1/2010 1/1/2011 1/1/2012 1/1/2013

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