You are considering two investment alternatives. The first is a stock that pays quarterly dividends of

$0.36

per share and is trading at

$22.37

per share; you expect to sell the stock in six months for

$25.36.

The second is a stock that pays quarterly dividends of

$0.43

per share and is trading at

$26.63

per share; you expect to sell the stock in one year for

$28.61.

Which stock will provide the better annualized holding period return?

The 1-year HPR for the first stock is

nothing%.

(Enter as a percentage and round to two decimal places.)