Consider three investors:

1. Mr. Single invests for one year.
2. Ms. Double invests for two years.
3. Mrs. Triple invests for three years.

Company Zs earnings and dividends per share are expected to grow indefinitely by 3% a year, the next years dividend is $9 and the market capitalization rate is 8%. Assume each invests in company Z. What is the expected rate of return for each of these investors? (Do not round intermediate calculations. Enter your answers as a percent rounded to the nearest whole number.)

expected rate of return Mr. Single

Ms. Double

Mrs. Triple