Emerald Energy is an oil exploration and production company that trades on the London stock market. Over the past year, the stock has enjoyed a 20 percent return in pound terms. But over the same period, the exchange rate has fallen from $2.00 = E1 to $1.80 = 1. 

Calculate the investor's annual percentage rate of return in terms of the U.S. dollars. 3.5 percent 9.25 percent There is not enough information to compute the investor's annual percentage rate of return in terms of the U.S. dollars.