An investor owns a mutual fund with a NAV of $32. It charges a rear-end load of 6% for the first year, declining by 1% for each year after to 0% in year 7 and beyond. The fund earned 14% and charges a 1.5% annual fee on the fund's year-end NAV each year. What is the difference between the annualized holding period return the investor earns over the two years if he keeps his share versus if he sells his share?