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Mary purchased 1 0 0 shares of Sweet Pea Co . stock at a price of $ 4 0 . 3 5 six months ago.

Mary purchased

100

shares of Sweet Pea Co

.

stock at a price of $

40.35

six months ago. She sold all stocks today for $

47.93 .

During that period the stock paid dividends of $

2.95

per share. What is Mary's effective annual rate?

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