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At time = 0 you purchase 100 shares of a stock for the market price of $12 per share

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At time = 0 you purchase 100 shares of a stock for the market price of $12 per share. At time = 1 the stock is worth $15 per share. Sometime after time = 1, but before time = 2, the stock has a 3:1 split. At time = 2 you sell all your shares for the market price of $8 per share. What is the return on your stock investment over the second period (i.e. from time=1 through time=2)?

1. A) 10%

2. B) 50%

3. C) 60%

4. D) 100%

5. E) –47%