Joe? Martinez, a U.S. citizen living in? Brownsville, Texas, invested in the common stock of?Telmex, a Mexican corporation. He purchased2000shares at15.00pesos per share. Twelve months? later, he sold them at19.50 pesos per share. He received no dividends during that time.

a.??What was? Joe's investment return? (in percentage? terms) for the? year, on the basis of the peso value of the? shares?

b.??The exchange rate for pesos was7.05 pesos per? US$1.00 at the time of the purchase. At the time of the? sale, the exchange rate was 7.52pesos per?US$1.00. Translate the purchase and sale prices into? US$.

c.??Calculate? Joe's investment return on the basis of the? US$ value of the shares.