38. Use the following information regarding an equal-weighted equity index and assume that all dividend payments are made at the end of the year.

Security	Price at the End of 2009 ($)	Price at the End of 2010 ($)	Dividends per Share ($)
A	20	25	0.5
B	50	45	0.2
C	31.25	36	0.4
D	100	135	0.5

Note: The dollar value of the index on December 31, 2009 is $10,000 and using a divisor of 10, the index level equals 1,000.

The total return on the index is closest to:

a. 16.76%

b. 17.47%

b. 17.90%

c. 18.57%

d. 19.05%