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You have the following rates of return for a risky portfolio for several recent years. Assume that the stock pays no dividends. Year Beginning price

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You have the following rates of return for a risky portfolio for several recent years. Assume that the stock pays no dividends. Year Beginning price Shares bought (+) or sold (-) 2018 $126.00 +125 2019 $132.00 -45 2020 $144.00 -80 What is the dollar-weighted return over the entire time period? 5.74% 4.56% 3.68% 6.43%

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