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Meg owns one share of Herring, Inc. stock. She purchased the share three years ago for $50. The current market value of the stock is

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Meg owns one share of Herring, Inc. stock. She purchased the share three years ago for $50. The current market value of the stock is $45 per share. Since buying the stock, the following dividends have been paid: Dividend year 1 (end) $4.80 per share Dividend year 2 (end) $5.90 per share Dividend year 3 (end) $7.25 per share What is the internal rate of return (IRR) that Meg earned on her investment? ho 9.0043% 7.9476% 6.3527% 5.7700% 8.7724%

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