请问为什么这里不需要年化呢？

问题如下：

2. Based upon Exhibit 1, the realized three-year holding period return for Novo-Gemini Inc. was closest to:

选项：

39.76%.

42.76%.

44.82%.

解释：

C is correct.

The realized holding period return (note that no dividends were paid during the 3-year holding period) is 44.82%. Specifically, the realized 3-year holding period is calculated as calculated as:

3-year realized return $=(P_H-P_0)/P_0=(\$30.05-\$20.75)/\$20.75=44.82\%$