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A stock was trading at $121.80 at the end of year 1. It was trading at the end of year 2 at $115.10 immediately after
A stock was trading at $121.80 at the end of year 1. It was trading at the end of year 2 at $115.10 immediately after giving a dividend of $4.40. At the end of year 3. it was trading at $125.30 immediately after giving a dividend of $4.60. Finally, it was trading at $135.40 at the end of year 4 without giving out any dividend. What was the arithmetic average annual return of this stock for the three years between years 1 and 4?
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