You bought a pair of game_worn Air Jordan 1's 8 years ago for $265380 and it is now worth $316809 according to a recent report by a Sotheby's appraisal team. What is the average annual rate of appreciation your shoes have experienced each year for the last 8 years (assume the rate has remained constant)? (Round your answer to 2 digits) a. 2.24 b. 3.53 c. 2.86 d. 0.75 e. 0.01