9. Lancaster Technology: Euro-Based Investors (B). Using the data above, now assume that the pound consistently appreciates

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9. Lancaster Technology: Euro-Based Investors (B). Using the data above, now assume that the pound consistently appreciates versus the euro 1.5% per year. Begin with the 1.4844/ in June 2004. Calculate the annual average total return (including dividends) to the euro-based investor holding the shares for the entire period shown.

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