<b>•</b> doubled their value<br/><br/><br/><br/>Hi!<br/><br/>I read the following question in a TOEIC book:<br/><br/><br/><br/>“104. Mr. Fullham’s investments in small start-up companies have doubled <i>______</i> value in just over five years.<br/><br/><br/><br/>(A) they<br/><br/>(B) <b>their</b><br/><br/>(C) them<br/><br/>(D) themselves<br/><br/><br/><br/>(Answer: B)” ((p. 80, ETS TOEIC TEST vol.4))<br/><br/><br/><br/>In the above sentence, what does “<b>their</b>” refer to? “Mr. Fullham’s investments”? Or, “small start-up companies”?<br/><br/><br/><br/>Thanks in advance.