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Tom purchased QBE Insurance Ltd at a price of $35.40 a share on 22nd October 2019. He sold his investment for $28.10 a share today.

Tom purchased QBE Insurance Ltd at a price of $35.40 a share on 22nd October 2019. He sold his investment for $28.10 a share today. During this time, he also received $1.09 per share in dividends. What is Tom's rate of return on this investment?

a) -23.879%

b) -7.838%

c) -22.099%

d) -20.627%

e) -17.542%

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