11. The Apple stock price was $400 about 6 months ago. Today the stock price is $320. The risk-free rate rf during the period was 0.8% per 6 months. Assume Apple gives a dividend of $20 per share today and it is the only dividend in the past 6 months. Today's stock price $320 is the price right after the dividend is given. What is the excess return of Apple stock during the past 6 months? (Hint: The stock price right before dividend payment would be the sum of $320 and $20 per share. The dividend payment does not change the return of your investment in Apple stock.) 1) -33.80% 2)-15.80% 3)-25.80% 4) -20.80% 5)-18.96%