Consider a stock purchased on January 1st, 1959, for $65 and sold on January 1st, 1960, for $80. The stock collected a dividend payment of $5 over that year. In addition, the price of the stock on March 4th was $105. What was the holding period rate of return over that year?

a. 25% b. 30.77% c. 69.23% d. 56.28%