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Five years ago, you purchased 1 0 0 shares of IBM stock for $ 1 1 5 a share. Today, you sold your IBM stock

Five years ago, you purchased 100 shares of IBM stock for $115 a share. Today, you sold your IBM stock for $157 a share. For this problem, ignore commissions that would be charged to buy and sell your IBM shares and assume dividends were constant at $6/share for each of the last five years. What was the total and average annual rate of return (%) on your IBM investment?

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