A closed-end fund's year-beginning NAV was $12, and its year-end NAV was $11.85. The fund share was selling at a 2% premium at the year's beginning, and a 5% discount at the year end. The fund paid the year-end distribution of income of \$1 per share. What was the investor's rate of for the year? a. 0.14% b. 1.25% c. 7.08% d. 2.25%