A Canadian investor buys 200 shares of Microsoft for $12,200 ($61.00 per share). Over the course of a year, Microsoft shares decline by $3.00. (Negative answers should be indicated by a minus sign. Round the final answers to 2 decimal places.)

a. If there is a 4 percent gain in the value of the U.S. dollar versus the Canadian dollar, what will be the total percentage return to the Canadian investor?

Total percentage return %

b. Now assume the stock declines by $6.00, but the U.S. dollar decreases by 2 percent versus the Canadian dollar. What will be the total percentage return to the Canadian investor?

Total percentage return %