Question $8$

Your client buys $10$ shares of stock at time $0$ for $$43$ per share.

At time $1,$ he receives a dividend of $$1$ per share, and buys another $10$ shares at the new price

of $$48$ per share.

At time $2,$ he receives a dividend of $$1$ per share, and sells his entire holding of stock for $$51$

per share.

What was the client's time$-$weighted annual return on this position?

Enter answer as a percentage, accurate to two decimal places.