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A stock had returns of 3 1 . 4 0 % ( 1 year ago ) , 1 2 . 6 0 % ( 2

A stock had returns of 31.40%(1 year ago),12.60%(2 years ago), X (3 years ago), and 8.70%(4 years ago) in each of the past 4 years. Over the past 4 years, the geometric average annual return for the stock was 9.23%. What was the arithmetic average annual return for the stock over the past 4 years? Answer in decimal format, rounded to the nearest hundredth of a percent (for example, 1.23% would be entered as 0.0123).

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