A stock had returns of 21.91% (1 year ago), 2.77% (2 years ago), X (3 years ago), and - 16.42% (4 years ago) in each of the past years. Over the past years, the geometric average annual return for the stock was 2.52%.

What was the arithmetic average annual return for the stock over the past years?

a. 3.44% (plus or minus 0.02 percentage points

b. 2.75% (plus or minus 0.02 percentage points)

c.1.55% (plus or minus 0.02 percentage points)

d. 5.49% (plus or minus 0.02 percentage points)

e. None of the above is wilhin 0.02 percentage points of the answer