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Michael has an investment with the following annual returns the past four years: Year 1 16% Year 2 -7% Year 3 4% Year 4 18%

Michael has an investment with the following annual returns the past four years:

Year 1 16%

Year 2 -7%

Year 3 4%

Year 4 18%

What is the arithmetic average return over this four year period?

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