25. You have $13,000 to invest and you are considering investing in Fund X. The fund charges a front-end load of 4 percent and an annual expense fee of 2.25 percent of the ending asset value over the year. You believe the fund's gross rate of return will be 9 percent per year. If you make the investment, what should your investment be worth in one year? What was your net annual rate of return? (5 point)