Amber invested in RBC Allocation Fund. The asset allocation strategy employed by the fund requires the fund manager to adjust the mix of asset classes to suit market conditions. Amber purchased 1,000 units of RBC at a price of $20 per unit at the beginning of the 2016 and paid a front-end load of 4%. The securities in which the fund invests are expected to increase in value by 12% during the year. The fund's expense ratio is 1.2% and the management fee is 0.7%. The fund had average daily assets of $2.2 billion at the beginning of the year and sold $400 million worth of shares and purchased $500 million shares during the year. 1) Solve Amber's rate of return on the fund if she were to sell her investment at the end of the 2016 2) Calculate the turnover ratio of the fund. 3) Other administrative expenses paid by Amber