Steven purchased 1000 shares of a certain stock for $26,900 (including commissions). He sold the shares 4

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Steven purchased 1000 shares of a certain stock for $26,900 (including commissions). He sold the shares 4 years later and received $34,200 after deducting commissions. Find the effective annual rate of return on his investment over the 4-year period. (Round your answer to two decimal places.) ? %/year