what is the growth rate in pmi's share price from 2014 to 2015?
performance graph the graph below compares the cumulative total shareholder return on pmi's common stock with the cumulative total return for the same period of pmi's peer group and the s&p 500 index . the graph assumes the investment of $ 100 as of december 31 , 2012 , in pmi common stock ( at prices quoted on the new york stock exchange ) and each of the indices as of the market close and reinvestment of dividends on a quarterly basis . date pmi pmi peer group ( 1 ) s&p 500 index .

| Date | PMI | PMI Peer Group<sup>(1)</sup> | S&P 500 Index |
| :--- | :--- | :--- | :--- |
| December 31, 2012 | $100.00 | $100.00 | $100.00 |
| December 31, 2013 | $108.50 | $122.80 | $132.40 |
| December 31, 2014 | $106.20 | $132.50 | $150.50 |
| December 31, 2015 | $120.40 | $143.50 | $152.60 |
| December 31, 2016 | $130.80 | $145.60 | $170.80 |
| December 31, 2017 | $156.80 | $172.70 | $208.10 |

( 1 ) the pmi peer group presented in this graph is the same as that used in the prior year , except reynolds american inc . was removed following the completion of its acquisition by british american tobacco p.l.c . on july 25 , 2017 . the pmi peer group was established based on a review of four characteristics : global presence ; a focus on consumer products ; and net revenues and a market capitalization of a similar size to those of pmi . the review also considered the primary international tobacco companies . as a result of this review , the following companies constitute the pmi peer group : altria group , inc. , anheuser-busch inbev sa/nv , british american tobacco p.l.c. , the coca-cola company , colgate-palmolive co. , diageo plc , heineken n.v. , imperial brands plc , japan tobacco inc. , johnson & johnson , kimberly-clark corporation , the kraft-heinz company , mcdonald's corp. , mondel z international , inc. , nestl e9 s.a. , pepsico , inc. , the procter & gamble company , roche holding ag , and unilever nv and plc . note : figures are rounded to the nearest $ 0.10. .

pmi_2014 = 106.20
pmi_2015 = 120.40
growth_rate = (pmi_2015 - pmi_2014) / pmi_2014
answer = growth_rate * 100