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19. Consider a no-load mutual fund with $500 million in assets, 50 million in debt, and 12 million shares at the start of the year,

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19. Consider a no-load mutual fund with $500 million in assets, 50 million in debt, and 12 million shares at the start of the year, and $600 million in assets, 40 million in debt, and 16 million shares at the end of the year. During the year investors have received income distributions of $0.50 per share, and capital gains distributions of $0.40 per share. Assuming that the fund carries no debt, and that the total expense ratio is 0.90%, what is the rate of return on the fund? (2 Points) 12.09% - 12.09% -13.26% 13.26%

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