A fund starts the year with NAV 31.5 per share. Over the year, the fund pays out income of 1.5 per share and capital gains distributions of 0.75 per share. Assets in the portfolio grew (shrank) by 0.085, and an expense ratio of 0.012 is charged at the end of the year. What is the rate of return on the fund? (Hint: calculate NAV1 first) 0.1359 0.1434 0.1636 0.1498 0.1560 A financial advisor recommends that you add some municipal bonds to your portfolio because of their tax advantages. You currently have corporate bonds with a yield of 9.30%. How much do the municipal bonds need to yield for you to consider them equivalent to the corporates (assuming similar risks/ratings for each) if you have a marginal tax rate of 20.00%. 11.63% 9.65% 8.56% 6.77% O 7.44%