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Eric purchased 100 shares in a mutual fund for $30 per share 5 years ago. He has never made an additional investment in this fund,

Eric purchased 100 shares in a mutual fund for $30 per share 5 years ago. He has never made an additional investment in this fund, but because of reinvested dividends and capital gains, he now owns 188 shares with a net asset value of $55 per share. Ignoring taxes, his compound average annual rate of return (IRR) is

68.93%.

36.08%.

52.79%.

28.08%.

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