Assume you purchase shares of an open-end mutual fund with a NAV of $10. During the year it distributes $0.50 in income. At the end of the twelve months, the funds NAV is $11. What is the one-year return for this fund?

A) 4.5%

B) 5.0%

C) 13.6%

D) 15.0%

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An open-end mutual fund has $111,200,000 in assets at the close of the day. They also received $200,000 in income but incurred $20,000 in expenses. Assuming the fund has 10,000,000 shares outstanding, what is the NAV of this fund at the close of the day?

A) $10.00

B) $11.10

C) $11.14

D) $11.50