Larry buys shares in Company ABC for $$74.$ Company ABC pays a dividend of $$1\mathrm{.}00$ per year.

At the end of the first year he owns it$,$ the stock falls to $$69.$

The stock subsequently rises to $$89$ and Larry decides to sell his shares in Company ABC for $$89$ at the end of the second year since owning it$.$

What was the annualized rate of return on his investment using a time$-$weighted calculation?