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An asset management firm generated the following annual returns in their US large-cap equity portfolio: Year Net Return (%) 2012 -32.2 2013 31.5 2014 8.1

An asset management firm generated the following annual returns in their US large-cap equity portfolio:

Year

Net Return (%)

2012

-32.2

2013

31.5

2014

8.1

2015

-1.2

The 2016 return needed to achieve a trailing five-year geometric mean annualized return of 5% when calculated at the end of 2016 is closest to:

A. 30.6%. B. 19.9%. C. 26.6%.

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