Mary purchased 100 shares of Sweet Pea Co. stock at a price of $44.12 six months ago. She sold all stocks today for $45.07. During that period the stock paid dividends of $1.22 per share. What is Mary’s effective annual rate? Round to two decimal places.

Mary purchased 100 shares of Sweet Pea Co. stock at a price of $44.12 six months ago. She sold all stocks today for $45.07. During that period the stock paid dividends of $1.22 per share. What is Mary’s effective annual rate? Round to two decimal places.

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