(Calculating rates of return)

The common stock of Placo Enterprises had a market price of $11.84 on the day you purchased it just one year ago. During the past year the stock had paid a dividend of $1.15 and closed at a price of $13.39.

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.)