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An investor records the following information and transactions for a stock:
| Year | Price per Share at Beginning of Year | Cash Flow at Beginning of Year |
|---|---|---|
| 1 | $100 | $100 used to purchase one share |
| 2 | $100 | $9 received in dividends and not reinvested |
| 3 | $100 | $100 received from selling one share |
The investor's money-weighted rate of return is closest to:
A
4.4%
B
4.5%
C
4.6%