Please only solve for part C

A manager buys three shares of stock today, and then sells one of those shares each year for the next 3 years. His actions and the price history of the stock are summarized below. The stock pays no dividends.

Time	Price			Action
0	$	130		Buy 3 shares
1		150		Sell 1 share
2		150		Sell 1 share
3		150		Sell 1 share

a. Time-weighted geometric average return on this portfolio

Time	Cash	Return
0	3*-130= -390
1	1*150= 150	(150-130)/130= 15.38%
2	1*150= 150	(150-150)/150= 0%
3	1*150= 150	(150-150)/150= 0%

Geo Avg Ret= (1.1538)^1/3 - 1 = 4.88%

b. The time-weighted arithmetic average return on this portfolio

Arith Avg Ret= (15.38+0+0)/3 = 5.13%

c. Calculate the dollar-weighted average return on this portfolio