please show detailed working on how you arrive at the answer.

$8-1.$ An unimproved city lot was purchased for $$3,400$ in January $1958.$

Property taxes on it were paid as follows:

At the end of $1969$ the lot was sold for $$7,000,$ less a $5\%$ commission to the

real estate broker. What rate of return before income taxes was obtained on

this investment? $($Ans$.=4\mathrm{.}4\%.)$