The Simple Arithmetic Average Return for the Common Stock of Saltwater

Multiple Choice

The simple arithmetic average return for the common stock of Saltwater Expeditions Incorporated for the eight-year period from 2005 through 2012 was 21 percent.The one-year holding period returns from 2005 through 2011 are given below.What is the implied one-year holding period return for 2012?

A) 21.4%
B) 24.4%
C) 3.0%
D) 13.0%
E) −3.0%