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XYZ stock price and dividend history are as follows: Year 2015 2016 2017 2018 Beginning-of-Year Dividend Paid at Year- Price End $132 147 4 120 4 125 4 An investor buys five shares of XYZ at the beginning of 2015, buys another three shares at the beginning of 2016, sells one share the beginning of 2017, and sells all seven remaining shares at the beginning of 2018, 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.) 208 % Anthmetic mean Geometnc mean 123 % b-1. Prepare a chart of cash flows for the four dates corresponding to the turns of the year for January 1, 2015, to January 1, 2018 (Negative amounts should be indicated by a minus sign.) b-1. Prepare a chart of cash flows for the four dates corresponding to the turns of the year for January 1, 2015, to January 1, 2018. (Negative amounts should be indicated by a minus sign.) Date 01/01/2015 Cash Flow $ (660) (421) 01/01/2016 01/01/2017 152 01/01/2018 903 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.) Rate of return | %

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