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An investor buys 50 shares of BOA at $22.6 per share at the beginning of 2017, buys another 80 shares at $29.75 per share at

An investor buys 50 shares of BOA at $22.6 per share at the beginning of 2017, buys another 80 shares at $29.75 per share at the beginning of 2018, sells 30 shares at $24.08 per share at the beginning of 2019, and sells all 100 remaining shares at $35.35 per share at the beginning of 2020. BOA pays $0.39 per share of dividends at the end of 2017, pays $0.54 per share of dividends at the end of 2018, and pays $0.66 per share of dividends at the end of 2019. What is the dollar-weighted rate of return?

A. 10.5%

B. 10.4%

C.11.6%

D. 11.3%

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