You Purchased 75 Shares of Basket Company for $42 a Share

Multiple Choice

You purchased 75 shares of Basket Company for $42 a share. One share of the stock is currently trading between $52 and $53, and you placed a stop loss order at $47. If the stock price drops to $40 a share, what is your return on this investment?

A) 8.7 percent
B) 9.2 percent
C) 10.3 percent
D) 11.9 percent
E) 12.8 percent