Harry purchased some shares in Asos. Ltd seven years ago. The company has not paid dividends for the last 10 years. Martin paid $2.00 per share when he purchased the shares. They are now trading at $1.10 per share. Martins effective annual rate of return on his investment is

Select one:

a. -8.9%

b. 8.2%

c. 8.9%

d. -8.2%