You made an investment of $14,500 into an account that paid you an annual interest rate of 2.6 percent for the first 4 years and 7 percent for the next 8 years. What was your annual rate of return over the entire 12 years?

a) 4.41 percent

b) 4.96 percent

c) 4.80 percent

d) 6.13 percent

e) 5.51 percent