Three years ago, you invested in the Future Investco Mutual Fund by purchasing 1,000 shares of the fund at a net asset value of $20.00 per share. Because you did not need the income, you elected to reinvest all dividends and capital gains distributions. Today, you sell your 1,100 shares in this fund for $22.91 per share. What is the compounded rate of return on this investment over the three-year period?

The compounded rate of return on this investment over the three-year period is %. (Round to two decimal places.)