Gabriel Fund is a small group of angel investors. They spend a lot of time evaluating startups worthy of investment, and their record suggests they will be successful 25% of the time.

Several years ago, Gabriel committed $10 million equally across four startup firms. Only one of those has come through with positive cash flow back to the fund. That consisted of $500,000 at the end of the fourth year of the relationship with Gabriel. Another $500,000 was returned to Gabriel at the end of the fifth year. At that time, the startup gave Gabriel two million shares of stock. Finally, Gabriel was able to sell its shares three years later (at the end of the eighth year) for $25 per share.

Given this, what was Gabriel's overall return on investment from these four startups?

Group of answer choices

about 47%

about 23%

about 77%