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Emerald Energy is an oil exploration and production company that trades on the London stock market. Assume that when purchased by an international investor the

Emerald Energy is an oil exploration and production company that trades on the London stock market. Assume that when purchased by an international investor the stock's price and the exchange rate were 10 and 0.75/$1.00 respectively. At selling time, one year after the purchase date, they were 12 and 0.81/$1.00. What is the investor's annual percentage rate of return in terms of the U.S. dollars?

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