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. Calculate the time-weighted geometric average return on this “portfolio.” (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "%" sign in your response.) Geometric average return %