A closed-end fund starts the year with a net asset value of $17.00. By year-end, NAV equals $17.30. At the beginning of the year, the fund was selling at a 1.5% premium to NAV. By the end of the year, the fund is selling at a 6% discount from NAV. The fund paid yearend distributions of income and capital gains of $1,90. a. What is the rate of return to an investor in the fund during the year? (Do not round intermediate calculations, Round your answer to 2 decimal places.)