Scott purchased 200 shares of Frozen Foods stock for $48 a share. Four months later, he received a dividend of $0.22 a share and also sold the shares for $42 each. What was his annualized rate of return on this investment?

a. -33.00 percent

b. -40.14 percent

c. -31.95 percent

d. -44.69 percent

e. -28.07 percent