Josh Purchased 100 Shares of XOM for $76

Multiple Choice

Josh purchased 100 shares of XOM for $76.63 per share at the beginning of 2007. He received dividends per share of $1.37 (2007) , $1.55 (2008) , $1.66 (2009) , $1.74 (2010) , $1.85 (2011) . At the end of 2011, just after receiving the last dividend, he sold the stock for $84.76. At what average annual rate did the price of the stock increase over the 5 year period?

A) about 10.61%
B) about 2.12%
C) about 2.03%
D) about 1.64%