From the data below, compute the percentage holding period returns for period 2 (i.e,
from t=1 to t=2). There are no cash payments (dividends) during any of the periods.
Period Stock Price Holding Period Return

1 $10 N/A
2 $13 ?
3 $11
4 $15

a. -23.08%
b. 3.00%
c. 18.18%
d. 23.08%
e. 30.00%