A stock had the following year-end prices and dividends:
Year | Price | Dividend | ||||
0 | $ | 59.23 | — | |||
1 | 69.60 | $ | 1.18 | |||
2 | 62.10 | 1.41 | ||||
3 | 71.08 | 1.53 | ||||
What was the arithmetic average return for the stock?
11.53%
8.43%
9.22%
15.06%
14.97%
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