Kathy Myers frequently purchases shares and bonds, but she is uncertain how to determine the rate of return that she is earning. For example, three years ago she paid $20,000 for 200 common shares of Malti Company. She received a $620 cash dividend on the shares at the end of each year for three years. At the end of three years, she sold the shares for $22,000. Kathy would like to earn a return of at least 14% on all of her investments. She is not sure whether the Malti Company shares provided a 14% return and would like some help with the necessary computations.

Required:

Using the NPV method, determine whether the Malti Company shares provided a 14% return. Round all computations to the nearest whole dollar.