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Three years ago, the common stock of Makkeny Corp. sold for $63.65 on the NYSE. Today, the current share price for the firm is $32.45.

Three years ago, the common stock of Makkeny Corp. sold for $63.65 on the NYSE. Today, the current share price for the firm is $32.45. The firm paid no dividends over this period of time and Makkeny executed a two for one stock split two years ago. What is the annualized return an investor would realize today if she purchased Makkeny three years ago?

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