(Calculating rates of return) The common stock of Placo Enterprises had a market price of $9.66 on the day you purchased it just one year ago. During the past year the stock had paid a dividend of $0.81 and closed at a price of $11.75. What rate of retum did you earn on your investment in Placo's stock? The rate of return you earned on your investment in Placo's stock is l%. (Round to two decimal places.)