12. A funds NAV at the beginning of the year is $30 and the fund has 5m mutual fund shares outstanding. The securities held by the fund increase in value by 10% during the year. The fund receives $1 million dividend at the end of the year. The funds expense ratio is 2.5% and is deducted from the assets in the fund at the end of the year. The fund has a front-end load of 4%.What is the funds reported return for the year?

Provide your answer in percent, rounded to two decimals, without the % sign.