In 1534, Jacques Cartier planted a cross on the Gaspe Peninsula to take possession of the territory in the name of King Francois I of France. While Jacques was distracted with the cross planting, his Cabin boy, Gigi Mucciolo, robbed him of his 10 pound bag of French Livers. The Livers were pure gold, and worried about getting caught, Gigi buried the gold. In 1534 gold was valued at $4.98 an ounce, making the ten pound bag worth $796.8 at the time. In 2019, you discovered the bag of gold buried in the backyard of your Gaspe home. Given that the current price of gold is $1,962.90 per ounce, what was the annual rate of return on the buried gold? a. 0.19% b. 0.33% c. 0.79% d. 1.24%

10. In 1534, Jacques Cartier planted a cross on the Gaspe Peninsula to take possession of the territory in the name of King Francois I of France. While Jacques was distracted with the cross planting, his Cabin boy, Gigi Mucciolo, robbed him of his 10 pound bag of French Livers. The Livers were pure gold, and worried about getting caught, Gigi buried the gold. In 1534 gold was valued at $4.98 an ounce, making the ten pound bag worth $796.8 at the time. In 2019 , you discovered the bag of gold buried in the backyard of your Gaspe home. Given that the current price of gold is $1,962.90 per ounce, what was the annual rate of return on the buried gold? a. 0.19% b. 0.33% c. 0.79% d. 1.24%