XYZ's stock price and dividend history are as follows: Year Beginning-of-Year Price Dividend Paid at Year-End 2017 $ 190 $ 5 2018 200 5 2019 180 5 2020 190 5 An investor buys...

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XYZ's stock price and dividend history are as follows:
Year Beginning-of-Year Price Dividend Paid at Year-End
2017 $ 190 $ 5
2018 200 5
2019 180 5
2020 190 5
An investor buys three shares of XYZ at the beginning of 2017,buys another two shares at the beginning of 2018, sells one shareat the beginning of 2019, and sells all four remaining shares atthe beginning of 2020.
a. What are the arithmetic and geometricaverage time-weighted rates of return for the investor?(Round your year-by-year rates of return and final answerto 2 decimal places. Do not round other calculations.)
b. What is the dollar-weighted rate of return?(Hint: Carefully prepare a chart of cash flows for thefour dates corresponding to the turns of the year forJanuary 1, 2017, to January 1, 2020. If your calculator cannotcalculate IRR, you will have to use trial and error or aspreadsheet program.) (Round your answers to 4 decimalplaces. Negative amount should be indicated by a minussign.)

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XYZ's stock price and dividend history are as follows:YearBeginning-of-Year PriceDividend Paid at Year-End2017$190$5201820052019180520201905An investor buys three shares of XYZ at the beginning of 2017,buys another two shares at the beginning of 2018, sells one shareat the beginning of 2019, and sells all four remaining shares atthe beginning of 2020.a. What are the arithmetic and geometricaverage time-weighted rates of return for the investor?(Round your year-by-year rates of return and final answerto 2 decimal places. Do not round other calculations.)b. What is the dollar-weighted rate of return?(Hint: Carefully prepare a chart of cash flows for thefour dates corresponding to the turns of the year forJanuary 1, 2017, to January 1, 2020. If your calculator cannotcalculate IRR, you will have to use trial and error or aspreadsheet program.) (Round your answers to 4 decimalplaces. Negative amount should be indicated by a minussign.)

Year	Beginning-of-Year Price		Dividend Paid at Year-End
2017	$	190	$	5
2018		200		5
2019		180		5
2020		190		5