Calculate the holding period return (HPR) for the following two investment alternatives. Which, if any, of the return components is likely not to be realized if you continue to hold each of the investments beyond one year? Which vehicle would you prefer, assuming they're of equal risk? Explain.

Cash Received	X	Y
1st Qtr	$ 1.00	$ 0.25
2nd Qtr	$ 1.20	$ -
3rd Qtr	$ 2.60	$ 1.00
4th Qtr	$ 2.40	$ 3.00
Investment Value
End of Year	$ 34.00	$ 62.00
Beginning of Year	$ 29.00	$ 51.00