You invested $100,000 in British equities. The stock's price was 50 and the exchange rate was 0.50/$1.00. At selling time, one year after purchase, they were 45 and 0.60/$1.00. Assume the investor sold 50,000 forward at the forward exchange rate of 0.55/$1.00. The dollar rate of return would be:

-27.27%

1.09%

28.00%

-9.09%