An American investor is considering investing today in a one year Chinese corporate bond which pays interest and par in RMB. The bond has a yield to maturity of 8%. The current spot exchange rate is $.15 per RMB and the current one year forward rate is $.16. After one year, the spot rate changes to $.17 and the one year forward rate changes to $ .18. The uncovered return for the American is ____ and the covered return is ____.

A. 14.67%/21.33%

B. 15.21%/12.25%

C. 21.33%/14.67%

D. 12.25%/15.21%

E. 14.55%/12.28%