14. The Profitability Fund (closed end fund) had NAV of $17.50 and was trading at a discount of 2% on January 1. On December 31 of the same year, the fund's NAV was $19.47 and was trading at a discount of 3%. Income and capital gain distributions were $0.75 and $1.00 respectively. Without considering taxes and transactions costs, what rate of retum did an investor receive on the Profitability Fund last vear? Show calculations