You buy a stock that has an annual expected return of 20% and a standard deviation of 25%. Last year, investors in the stock lost 32.5% of their money and the year before they gained 40%. What is the probability that the outcome on this stock will be better than -32.5%, but less than +40% this year?

a. 77.03% b. 22.97% c. 52.50% d. 18.75% e. 78.82%