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A fund initially has 50millionundermanagementandearns1750 million under management and earns 17% in Year 1. The fund receives additional investments of 50millionundermanagementandearns17125 million at the beginning of Year 2 and earns 12% in Year 2. The annualized money-weighted rate of return over the 2-year period is closest to:
A
13.2%
B
14.5%
C
15.5%
