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Default Latest date for each of the year

I have four columns - Product, Date, Year(based on date), Price. For each of
the product there will be price revisions occuring. I need to pick up the
latest price for each of the product in each of the year.

Say for example - Product A, the price details of that are 31st Jan'04 -
Rs.500, 5th Aug'04 - Rs.550, 20th Aug'05 - Rs.450, 15th Nov'05 - Rs.440, 30th
July'06 - 520

I need the answer to be Product A - Year 2004 Rs.550, Year 2005 Rs.440, Year
2006 Rs.520 (i.e I need the price for each of the year based on the lates
date of each of the year)
 
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