On January 1, 2017 , Simon Love's portfolio of 15 common stocks had a market value of $ 260,000 . At the end of May 2017 , Simon sold one of the stocks, which had a beginning-of-year value of $ 26,500 , for $ 31,400 . He did not reinvest those or any other funds in the portfolio during the year. He received total dividends from stocks in his portfolio of $ 11,500 during the year. On December 31, 2017 , Simon's portfolio had a market value of $ 246,000 . Find the HPR on Simon's portfolio during the year ended December 31, 2017 . (Measure the amount of withdrawn funds at their beginning-of-year value.)