2. Suppose an individual invests $10,000 in a load mutual fund for two years. The load fee entails an up-front commission charge of 4.50% of the amount invested and deducted from the original funds invested. In addition, annual fund operating expenses (or 12b-1 fees) are 0.75%. The annual fees are charged on the average net asset value invested in the fund and are recorded at the end of each year. Investments in the fund return 5.25% each year paid on the last day of the year. If the investor reinvests the annual returns paid on the investment, calculate the annual return on the mutual fund over the two-year investment period using the following two methods. Which method provides more accurate return? (1) Calculate annual return. (3 points) (2) Calculate annual return based on present value of investment. (7 points)