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A stock was trading at $22.75 at the end of year 1. It was trading at...

A stock was trading at $22.75 at the end of year 1. It was trading at the end of year 2 at $23.08 immediately after giving a dividend of $0.36. At the end of year 3. it was trading at $22.44 immediately after giving a dividend of $0.38. Finally, it was trading at $24.26 at the end of year 4 without giving out any dividend. What was the geometric average annual return of this stock for the three years between years 1 and 4?

Question 21 options:

2.94%

3.02%

3.11%

3.19%

3.27%
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SEE THE IMAGE. ANY DOUBTS, FEEL FREE TO ASK. THUMBS UP PLEASE

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