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A manager buys three shares of stock today, and then sells oneof those shares each year for the next 3 years. His actions and theprice history of the stock are summarized below. The stock pays nodividends.TimePriceAction0$125Buy 3 shares1145Sell 1 share2145Sell 1 share3145Sell 1 sharea. Calculate the time-weighted geometricaverage return on this portfolio. (Do notround intermediate calculations. Round your answer to 2 decimalplaces.)b. Calculate the time-weighted arithmeticaverage return on this portfolio. (Do not roundintermediate calculations. Round your answer to 2decimal places.)c. Calculate the dollar-weighted average returnon this portfolio. (Do not round intermediate calculations.Round your answer to 2 decimal places.)