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You have the following rates of return for a risky portfolio for several recent years: 2008 35.23% 2009 18.67% 2010 -9.87% 2011 23.45% The annualized

You have the following rates of return for a risky portfolio for several recent years:

2008 35.23%

2009 18.67%

2010 -9.87%

2011 23.45%

The annualized (geometric) average return on this investment is _____.

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