TFC 7.42% $1.31 tfs corporation limited

can somebody help me understand this statement : so growers who...

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    can somebody help me understand this statement :
    so growers who have paid their annual fees can expect a 3.7% annualized rate of return (80% over 16 years).   And those that have deferred their fees will have to pay them now, so their real rate of return won't be anywhere near 9.9%?
 
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