Claudia purchased 150 shares of a stock 20 years ago for $15 per share. Today she sold all 150 shares for $50 per

share. What was her average annual compound rate of return on this investment (before tax)?

Select one:

a. 9.98%

b. 11.66%

c. 10.02%

d. 6.20%

e. 7.97%

Please show your work.

Thank you in advance.