Your client buys 10 shares of stock at time 0 for $45 per share.
At time 1, he receives a dividend of $2 per share, and buys another 10 shares at the new price of $50 per share.
At time 2, he receives a dividend of $3 per share, and sells his entire holding of stock for $50 per share.
What was the client's time-weighted annual return on this position? Enter answer as a percentage, accurate to two decimal places.