A year ago, an investor bought 120 shares of a mutual fund for $11.50 per share. This year, the fund has had total distributions of $0.85 per share and the investor decides to reinvest the distributions into the fund and is able to do so at an average price of $12.00. This fund has a back-end load of 2% and is now trading at $12.70 per share. Find the investor's holding period return.