(Calculating rates of return)The common stock of Placo Enterprises had a market price of

$11.07

on the day you purchased it just one year ago. During the past year the stock had paid a dividend of

$0.58

and closed at a price of

$13.20.

What rate of return did you earn on your investment in Placo's stock?

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Part 1

The rate of return you earned on your investment in Placo's stock is

enter your response here%.

(Round to two decimal places.)