Ten years ago, Hunter purchased 500 shares in a mutual fund for $22.50 per share. He has never made an additional investment in this fund, but because of reinvested dividends and capital gains, he now owns 664 shares with a net asset value of $53.80 per share. Ignoring taxes, his compound average annual rate of return (IRR) is

		14.54%.
		12.25%.
		16.08%.
		10.79%.