Suppose a U.S. investor wants to invest in a British firm currently selling for 150 per share. The investor has $7,000 to invest, and the current exchange rate is $1.40/. After 1 year, the exchange rate is unchanged and the share price is 55.

a. the pound-denominated return is the same as the US$-denominated return

b, the pound-denominated return is less than the US$-denominated return

c. the pound-denominated return is greater than the US$-denominated return

d. the pound-denominated return is not the same as the US$-denominated return