Bridgewater Associates invests $88 billion in each of Lucid Group, Inc. (LCID) and Tesla, Inc. (TSLA). Bridgewater has a 2 and 15 fee structure and its management fees and incentive fees are calculated independently at the end of each year. After one year, the investment in LCID is valued at $110 billion and the investment in TSLA is valued at $120 billion. The annual return to an investor in Bridgewater Associates is closest to

A. 30.88%.

B. 27.65%.

C. 23.47%.

D. 18.75%.