Q#1) Spencer Grant and Vaniteux (A). Spencer Grant is a New York-based investor. He has been closely following his investment in 200 shares of Vaniteux, a French firm that went public in February 2010. When he purchased his 200 shares at 18.15 per share, the euro was trading at $1.3538/. Currently, the share is trading at 28.01 per share, and the dollar has fallen to $1.422/.

a. If Spencer sells his shares today, what percentage change in the share price would he receive?

b. What is the percentage change in the value of the euro versus the dollar over this same period?

c. What would be the total return Spencer would earn on his shares if he sold them at these rates?