Michael Novogratz estimates that over the past five years the arithmetic average return of his Bitcoin investment is 13.40%. He knows that during the first two years his Bitcoin investment earned a return of 16.43% and 24.54%, respectively. During the last two years, Michael knows that his Bitcoin investment earned a return of -13.05% and 9.66%, respectively. Given this information, during the third year, Michael Novogratzs Bitcoin investment earned a return of:

23.54% 16.02% 3.32% 29.42% 26.48%