A Portfolio Manager Has the Following Sequence of Cash Flows

A portfolio manager has the following sequence of cash flows over a two year period:

$\begin{array}{c}\begin{array}{lll}\\\text {Time}\\0\\1\\2\end{array}\begin{array}{c}\text {Market Value}\\\text {before cash flow}\\\$0\\\$3,200\\\$6,000\end{array}\begin{array}{c}\\\text {Cash In}\\ \$ 3,000 \\\$ 1,950 \\-\$90\end{array}\begin{array}{c}\text {Market Value}\\\text {after cash flow}\\\$3,000\\\$5,150\\\$5,910\end{array}\end{array}$
Calculate the portfolio manager's time weighted return.

A) 13.56%
B) 11.48%
C) 15.50%
D) 8.75%
E) 10.67%