please solve a b c without using excel or r.

The table below shows a mutual fund's quarterly cash flow and quarterly yield.

	1st Quarter	2nd Quarter	3rd Quarter	4th Quarter
Assets under management at start of quarter	1	1.2	2	0.8
Holding-period return (%)	10	25	20	20
Total assets before net inflows	1.1	1.5	1.6	0.96
Net inflow ($ million)	0.1	0.5	0.8	0.6
Assets under management at end of quarter	1.2	2	0.8	1.56

(a) Calculate the arithmetical average of the return on mutual funds for each quarter.

(b) Calculate the geometric average of the return on mutual funds for each quarter.

(c In order to calculate the mutual fund's dollar weighted average, the internal rate or return (IRR) for the fund must be obtained. Give the net present value (NPV) equation from which IRR can be obtained.