You Are a U

Multiple Choice

You are a U.S. investor who purchased British securities for 2,200 pounds one year ago when the British pound cost $1.50. No dividends were paid on the British securities in the past year. Your total return based on U.S. dollars was __________ if the value of the securities is now 2,560 pounds and the pound is worth $1.60.

A) 16.7%
B) 20.3%
C) 24.1%
D) 41.4%
E) None of the options