1. Calculate the dollar rates of return on the following assets:

(a) A painting whose price rises from $200, 000 to $250, 000 in a year.

(b) A bottle of a rare Burgundy, Domaine de la Romanee-Conte 2011, whose price rises from $255 to $275 between 2013 and 2014.

(c) A 10, 000 deposit in a London bank in a year when the interest rate on pounds is 10 percent and $/ exchange rate moves from $1.50 per pound to $1.38 per pound.