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You have the following rates of return for a risky portfolio for several recent years: 2011: 35.23% 2012: 8.67% 2013: -9.87% 2014: 23.45% The annualized

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

2011: 35.23% 2012: 8.67% 2013: -9.87% 2014: 23.45%

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

A. 16.15%

B. 16.87%

C. 21.32%

D. 15.60%

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