An investor in the United States bought a one-year Brazilian security valued at 380,000 Brazilian reals (R$). The U.S. dollar equivalent was $330,000. The Brazilian security earned 11 percent during the year, but the Brazilian real depreciated 5 cents against the U.S. dollar during the time period ($.87 to $.82).
After transferring the funds back to the United States, what was the investor’s return on her $330,000? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)