A mutual fund sells Class A shares with a front-end load of 5.6% and Class C shares with 12b-1 fees of 3.8% annually as well as back-end load fees that start at 6% and fall by 1% after each full year the investor holds the portfolio. Assume the portfolio rate of return net of operating expenses is 12% annually.

If you plan to invest $1,000 in the Class C shares and sell the fund after 5 years, what would be your 5-year return?

Enter your answer as a percentage and round to the nearest 1%. E.g., if your answer is "0.12", enter "12%".