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Chapter 13 Financial Planning Exercise 9 Calculating approximate yield on mutual fund About a year ago, Ramon Navarrete bought some shares in the Sapphire Lake Mutual Fund. He bought the fund at $25.80 a share, and it now trades at $26.30. Last year the fund paid dividends of 51 cents a share and had capital gains distributions of $1.03 a share. a. Using the approximate yield formula, what rate of return did Ramon earn on his investment Round the answer to two decimal places, 7.71 X d. Repeat the calculation using a handheld financial calculator Round the answer to two decimal places 7.79 X c. Would he have made a 20% rate of return if the stock had risen to $30 a share? Yes Check My Wor Partially correct Previous Med more Check My Work uses remaining