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A stock produced returns of 11 percent, 19 percent, and 2 percent over three of the past four years, respectively. The arithmetic average for the past four years is 9 percent. What is the standard deviation of the stock's returns for the four-year period?

Select one:

a. 5.46 percent

b. 8.54 percent

c. 9.09 percent

d. 6.83 percent

e. 7.70 percent

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