1. A noload mutual fund had NAV per share of $22.00 on January 1. On December 31 of the same year the fund's NAV was $25.32. Income distributions were $0.85 and the fund had capital gain distributions of $1.65. Without considering taxes and transactions costs, what rate of return did an investor receive on the fund last year? Enter your answer rounded to two decimal places.

2.You purchased shares of a mutual fund at a price of $29.50 per share at the beginning of the year and paid a front-end load of 5.5%. If the securities in which the fund invested increased in value by 11% during the year, and the fund's expense ratio was 1.75%, what is your rate of return if you sold the fund at the end of the year? Enter your answer rounded to two decimal places