You purchased 100 shares of Pepsico stock in January 2012 for $55 per share. Each year you received a cash dividend of $0.75 per share. In December of 2016, you sold 100 shares for $82 per share. Brokerage fees amounted to 3.0% of the purchase price and 3.0% of the sales proceeds. What was the average annual return over the investment? 4.37% 10.14% 8.19% 12.35%

You purchased 100 shares of Pepsico stock in January 2012 for $55 per share. Each year you received a cash dividend of $0.75 per share. In December of 2016 , you sold 100 shares for $82 per share. Brokerage fees amounted to 3.0% of the purchase price and 3.0% of the sales proceeds. What was the average annual return over the investment? 4.37% 10.14% 8.19% 12.35%