Mary Chalmers, Who Lives in Minnesota, Purchased 100 Shares of Delton

Mary Chalmers, who lives in Minnesota, purchased 100 shares of Delton Cables, a diversified machinery company headquartered in Germany. She purchased the stock in January of 2011 for €62.50 per share when the exchange rate was at $1.330/€. Today, the stock is trading for €68.00 per share and the exchange rate is $1.48/€. If Mary sells her shares today, what is the return on her investment due to price appreciation of the stock?

A) 11.28%
B) 20.08%
C) 8.80%
D) 26.41%