Manjit has invested $20,000 in a new investment that guarantees the amount will grow to $50,000 over 6 years (excluding investment fees), while paying a dividend of $1,000 per year. Manjit pays investment fees related to this investment of $500 per year. What is the annual rate of return of this investment?

a.

1.43%

b.

15.71%

c.

11.00%

d.

5.00%